After years of intensive reforms aimed at enhancing its business climate, Egypt is now opening its doors wide to investors from around the world. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), made the declaration during the Egypt–South Korea Economic Cooperation and Partnership Conference, held in celebration of 30 years of diplomatic relations between the two countries.
Heiba stated that the current phase of Egypt’s economic strategy is summed up by the message, “Egypt is Ready,” underscoring the country’s readiness to attract, receive, and support global investment. He highlighted the critical role GAFI has played in recent years in improving Egypt’s investment landscape through a series of regulatory reforms, streamlined procedures, and tailored incentives designed to foster investor confidence and remove longstanding barriers to entry.
According to Heiba, these efforts have already produced tangible results. Foreign direct investment reached its highest level in Egypt’s history last year. Even when excluding the landmark Ras El Hekma deal, net FDI was still 20 percent higher than the previous year, signaling a strong and growing belief in the strength and potential of the Egyptian economy.
Heiba also outlined the broader set of advantages that make Egypt a uniquely attractive investment destination. These include its strategic geographic location connecting Africa, Asia, and Europe, a robust network of trade agreements, a young and skilled workforce, advanced infrastructure, and a competitive tax environment. He linked these attributes to Egypt’s national development strategy under Vision 2030, which prioritizes sustainable growth, economic resilience, and social equity.
He stressed that the state is not only focused on broad economic liberalization but is also targeting specific sectors for investment in the coming period. These include industry, agriculture, healthcare, green energy, and education. He explained that each of these sectors is being supported with carefully designed, sector-specific incentives to maximize their appeal to both local and international investors.
In his remarks, Heiba also emphasized the depth and importance of the economic relationship between Egypt and South Korea. He called for expanding cooperation in the next phase, especially given the challenges of the current global economic environment and the emerging opportunities in both nations. He thanked the South Korean Embassy in Cairo for sponsoring and organizing the conference, describing the event as a timely and valuable platform for elevating bilateral economic collaboration.
