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Arab Finance: CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Awad held talks with a delegation from the European Bank for Reconstruction and Development (EBRD) to discuss mechanisms for activating the memorandum of understanding (MoU) signed in 2025 to promote investment opportunities, attract further direct foreign investment (FDI), and back the private sector.
The meeting focused on setting a practical framework to cooperate on implementing several initiatives that contribute to boosting investment and supporting the competitiveness of the private sector.
Awad emphasized that the MoU represents a significant move towards leveraging the EBRD’s technical and financial expertise. This will support GAFI's efforts to improve Egypt's investment climate, attract FDI, and strengthen the competitiveness of the national economy.
The talks addressed several priority areas of cooperation, including joint investment promotion campaigns in Egypt and abroad, organizing events targeting investors and strategic sectors, and expanding cooperation in the development of investment zones.
Both sides also explored utilizing the EBRD's financing instruments and technical expertise to support infrastructure and service projects within these zones.
Moreover, Awad highlighted GAFI's ongoing digital transformation efforts, noting that the authority is deploying AI-powered tools to analyze data from around 415,000 companies established through its investor service centers. This contributes to providing a database to support investment decision-makers.
For her part, Reem El Saady, the Deputy Head of Egypt at the EBRD, said the bank has invested over €14 billion since commencing its operations in Egypt in 2013, allocating 80% of the capital to support the private sector.
She affirmed that the bank looks forward to building on the MoU signed with the GAFI and strengthening cooperation in implementing joint initiatives and activities to promote investment.
Additionally, discussions tackled ways to enhance cooperation in empowering Egyptian companies, particularly exporters, through the exchange of data on financing institutions, green finance instruments, and sustainability-related financing. This will help companies comply with the requirements of the EU’s Carbon Border Adjustment Mechanism (CBAM) and strengthen their access to European markets.
