During his opening remarks, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), highlighted French President Emmanuel Macron's visit to Egypt as a pivotal moment in the strategic relationship, underscoring deep historical ties and growing cooperation, particularly in the economic sphere.
Heiba emphasized the timely nature of the visit as Egypt
seeks broader international partnerships, noting a shared vision for a future
based on innovation, sustainable development, and mutual prosperity. He also
pointed to Egypt's successful structural economic reforms under President Abdel
Fattah El-Sisi, which have boosted the investment environment, citing $46.6
billion in FDI in 2024 as evidence of increasing international confidence.
GAFI's CEO outlined ambitious future targets, including
attracting $60 billion in FDI and increasing exports to $145 billion, with a
goal of 65% private sector contribution to total investments by 2030. He noted
France's key role as a partner, with over $7 billion in investments creating
more than 50,000 jobs through over 180 French companies in Egypt.
Heiba also detailed government policies to enhance economic
competitiveness and the business climate, such as the 2023 State Ownership
Policy and the Golden License for major investment projects. He expressed
Egypt's keenness to strengthen cooperation with France in clean energy, digital
transformation, infrastructure, transportation, health, and technology,
highlighting promising investment opportunities, especially in sustainable
development and green projects.
GAFI assured full support and facilitation for French
investors entering the Egyptian market, emphasizing a more dynamic and
effective phase in the Egyptian-French partnership.
Ayman Ezzat, Chairman of the Egyptian-French Business
Council, stated that the forum provides a crucial opportunity to solidify
economic cooperation amidst a favourable investment climate and ongoing
reforms. He pointed to successful public-private partnerships exceeding $1
billion in education, transportation, and infrastructure.
Ezzat added that this event marks a new chapter in
Egyptian-French relations, coinciding with President Macron's visit, with a
focus on boosting innovation and knowledge-based investments and building
bridges between people and companies for a prosperous future.
Didier Boulogne, CEO of Operations at the French Ministry of Foreign Trade, affirmed that the forum is a vital platform for companies to expand in both markets. He emphasized France's commitment to the Egyptian economy as the largest European investor in Cairo, with $7 billion in investments. He noted that French companies in Egypt operate across various sectors and aim to expand regionally.