Egypt tops Africa and breaks into world’s top 10 investment destinations
Egypt has emerged as one of the world’s leading investment destinations, ranking ninth globally and first in Africa after securing net inflows of US$46.1 billion in the 2023/24 fiscal year, according to Hossam Heiba, Head of the General Authority for Investment and Free Zones (GAFI), TV BRICS reports.
According to Daily News Egypt, speaking at the Egypt–Bahrain Business Forum, Heiba pointed to Egypt’s large labour force of more than 32 million people, its strategic location, competitive tax regime, strong infrastructure, and trade agreements with around 70 countries, offering access to nearly 3 billion consumers.
Heiba encouraged Bahraini investors to explore opportunities through Egypt’s Investment Map, which highlights some 1,200 projects, or by visiting free zones and investment hubs across the country.
Walid Gamal El-Din, Chair of the General Authority for the Suez Canal Economic Zone, highlighted the zone’s transformation into a global industrial and logistics hub. He stressed that the zone offers investors a package of incentives such as customs and tax exemptions, access to skilled technical labour, and streamlined digital services via a one-stop-shop system.
Earlier, on the sidelines of the Shanghai Cooperation Organisation Summit in Tianjin, Egypt’s Prime Minister Mostafa Madbouly encouraged Chinese companies to expand their investments in the Suez Canal Economic Zone, with a particular focus on electric vehicles, water desalination, and renewable energy.
Earlier, the UAE firm joined the global solar partnership in Egypt with $220 million investment.