Madbouly thanked Abdel-Wahab for his efforts during his presidency which contributed to creating an attractive climate for investment on both local and foreign levels
By: Business Today Egypt
Sun, Dec. 18, 2022
The General Authority of Free Zones and Investment (GAFI) now has a new head after Prime Minister Mostafa Madbouly appointed investment banker Hossam Heiba as president on Thursday.
Heiba succeeds Mohamed Abdel-Wahab who has served in the post since July 2019. Abdel-Wahab’s term was originally set to end in August 2023.
Madbouly thanked Abdel-Wahab for his efforts during his presidency which contributed to creating an attractive climate for investment on both local and foreign levels during this difficult period due to global crises.
The new GAFI president has previously served as the managing director of Vitas Egypt for Microfinance and was also Deputy Board Chairman and Managing Director of Post for Investments (PFI).
GAFI, which belongs to the Ministry of Investment, is the country's principal government body in charge of regulating and facilitating investments.
The Egyptian Cabinet recently agreed to GAFi’s request to build a free zone under the name of Trans Egypt Company for managing and operating terminals, according to an official statement on November 23rd.