The General Authority for Investment and Free Zones (GAFI) has signed a memorandum of understanding with Mashreq Bank. This partnership is designed to attract both local and foreign investments, strengthening Egypt’s position as a hub for global business opportunities.
The agreement, signed by GAFI CEO Hossam Heiba and Mashreq Bank Egypt CEO Amr el Bahey, underscores the Egyptian government’s commitment to the private sector’s pivotal role in economic growth. “Collaboration between public and private sectors is essential for enhancing the business environment and ensuring its sustainability,” Heiba emphasized. This initiative is part of Egypt’s broader economic plan to drive investment in diverse sectors.
Under this partnership, Mashreq Bank will inform its Egyptian and international clients about emerging business prospects and key national projects in Egypt. The bank will also facilitate interactions between GAFI and potential investors, organizing meetings for overseas clients interested in expanding their operations within Egypt. “This deal provides a structured pathway for investors to tap into Egypt’s burgeoning market,” said financial analyst Dr. Rania El-Mahdy.
GAFI is committed to supplying Mashreq Bank with critical information about investment opportunities and updates on the investment landscape. This collaboration aligns with the government’s plan to target key sectors that are ripe for development, such as renewable energy, infrastructure, and technology.
According to a report by the World Bank, Egypt is positioned as one of Africa’s fastest-growing economies, with potential for significant foreign direct investment (FDI) inflows. This agreement seeks to capitalize on that momentum, offering investors a transparent and supportive environment to thrive.
As Egypt continues to forge strategic partnerships, the collaboration between GAFI and Mashreq Bank exemplifies a proactive approach to economic development. By leveraging both local expertise and international connections, Egypt is poised to become a leading destination for global investors, driving sustainable economic growth and innovation.
