Egyptian economic delegation seeks to boost investment with EU

Daily News Egypt
4 Min Read

Badr Abdel Aty, Egyptian Ambassador to Brussels, received a high-level Egyptian economic delegation of senior public and private sector officials. The delegation aimed to promote investment in Egypt, review the economic reform process in the country, and prepare for the investment conference that will be held in Egypt in cooperation with the European Union in the next few months.

The Egyptian Embassy and its commercial office in Brussels arranged several meetings for the delegation, including meetings with the European Business Foundation, the Arab-Belgium-Luxembourg Chamber of Commerce (ABLCC), and the Solar Power Europe Federation.

Hossam Heiba, Chairperson of the General Authority for Investment (GAFI) and head of the delegation, discussed the facilities that the state and the General Authority for Investment offer to foreign companies and investors. He also talked about their positive impact on the investment climate and the competitiveness of the Egyptian economy.

Heiba said that the investment conference focuses on promising sectors, especially those that are important to both Egypt and the European Union. The most important sectors are clean energy and green hydrogen, as well as agriculture, food security, tourism, transportation, logistics services, and the industrial sector, including the automotive and food industries, pharmaceutical industry, and others.

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), highlighted the advantages of the SCZONE, which has six ports on the Red and Mediterranean shores. He pointed out the efforts to localize industries in the economic zone, especially in the field of green hydrogen. He also stressed Egypt’s readiness to build more partnerships with the European side.

Gehan Saleh, economic advisor to the Prime Minister, explained the developments of the economic reform process that the Egyptian state started several years ago. She referred to the state ownership document that was announced in 2022 to clearly define the sectors that the state will be involved in and those that it will exit.

Omar Abu Eish, Ambassador to the EU, also spoke about the importance of enhancing ties between Egypt and the European Union on the economic, investment, and trade levels.

Representatives of the Egyptian private sector, including the Secretary General of the Federation of Chambers of Commerce in Egypt, the President of the Federation of Investors Associations, the President of the Egyptian Youth Business Association, and the Federation of Industries, also discussed the business and investment opportunities available in Egypt.

On the other hand, representatives of the Belgian and European private sectors expressed their great interest in the Egyptian markets.

Abdel Aty also reviewed the good economic and trade relations between Egypt and the European Union, as well as the bilateral relations between Egypt and Belgium. He mentioned the efforts to launch a comprehensive strategic partnership with the European Union to improve relations between the two parties. He also highlighted the promising potential that Egypt has in the energy sector, especially new, renewable, and clean energy.

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