Heiba stressed that this marks the highest growth rate in 15 years, he also confirmed that the authority is currently focusing on attracting foreign direct investment and promoting investment opportunities
Egypt achieved $10 billion from foreign direct investment (FDI) during Fiscal year (FY) 2022/2023, with a growth of 12.3% compared to the FY2021/2022, according to a statement by the CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba at the Annual Summit of Capital Markets.
Heiba stressed that this marks the highest growth rate in 15 years, he also confirmed that the authority is currently focusing on attracting foreign direct investment and promoting investment opportunities. The purpose of GAFI's efforts is to boost the role of the private sector in investments, he added.
He emphasized that over the past 9 years, there has been a significant achievement in foreign direct investment, except for the period affected by COVID-19.
Heiba disclosed that there have been 26 golden licenses awarded for 26 projects. These licenses encompass a wide range of production activities, spanning across industries such as industrial, food, agricultural, humanitarian, technological, and tourism sectors.
This came during his opening speech at 8th Annual Summit of Capital Markets which was held in Cairo on Monday.
This summit came with the theme "Structural Reforms – Sustaining Development" supported by the Ministries of Finance, Planning, and Economic Development, aims to deliberate on the Egyptian state's comprehensive implementation of structural reforms throughout various economic domains.
The primary objective of the summit is to foster sustainable development by fostering discussions and exchanging insights.
