28 January 2021 06:06 PM

PM in talks over improving investment climate

Sunday، 22 November 2020 - 03:43 PM

Prime Minister Moustafa Madbouli discussed on Sunday with CEO of the General Authority of Free Zones and Investment (GAFI) Mohamed Abdel Wahab efforts to improve investment climate in Egypt.

Madbouli lauded the authority's efforts in ironing out hurdles blocking investors' work, underlining the importance of marketing for projects carried out by the government and all available investment opportunities.

Adel Wahab reviewed steps taken by the authority to pay all dues of companies that carry out its projects and talked about measures to improve investment climate in Egypt.

Among these measures, he said, amending the statute of Investment Law, allowing fertilizers' projects and natural gas-based industries to work under Free Trade Areas system, holding meetings of the ministerial meetings tasked with settling disputes twice a month and listing some governorates among areas needed most of development projects.

He expounded the authority's efforts to lure new investments or expand existing ones, including increasing investments of Samsung Company by 84 million dollars in five years, investments of Pfizer Company by 70 million dollars from 2020 to 2021 and investments of Pepsico Egypt by 100 million dollars from 2020-2021.

MENA

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