Thursday 03 Apr
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), and Amr El-Bahey, CEO of Mashreq Bank Egypt, have signed a Memorandum of Understanding (MoU) to bolster investment cooperation.
Under the MoU, Mashreq Bank Egypt will promote Egyptian investment opportunities to its domestic and international clientele, highlighting Egypt's diverse economy, strategic location, large consumer market, and recent national projects. The bank will facilitate communication between GAFI and potential investors, and organize meetings with GAFI representatives for interested international clients.
GAFI will provide Mashreq Bank Egypt with comprehensive
information on investment opportunities, targeted sectors aligned with
government plans, and updates on relevant legislation and procedures.
Heiba emphasized GAFI's commitment to partnering with
Mashreq Bank Egypt to attract investors through its global network,
particularly in the United Arab Emirates, Egypt's leading investor. He
highlighted the government's belief in the private sector's role in driving
investment, and the importance of public-private collaboration for a
sustainable business environment. He stated that GAFI's role is to facilitate
the implementation of private sector investment visions in line with national
development priorities.
El-Bahey stated that Mashreq Bank's international network, spanning key financial centers including the UAE, GCC, US, UK, India, and Hong Kong, will enable the bank to showcase Egypt's attractive investment climate. The bank will address foreign investor inquiries and, through collaboration with GAFI, provide clients with essential data, information, and sector studies for investment and expansion in Egypt.
