GAFI CEO Hossam Heiba chaired the meeting for the Egyptian side, while Omar Rekkache, Director General of the Algerian Investment Promotion Agency (AAPI), led the Algerian delegation. GAFI Vice Chairmen Yasser Abbas and Dr. Dalia El Hawary also participated, alongside senior Algerian officials.
Heiba stressed that the meeting marked a significant step in
strengthening economic relations and expanding investment cooperation. He
highlighted Egypt's ongoing strategic transformation in its investment climate,
underpinned by a private-sector-focused economic direction and reforms centered
on transparency and governance.
He detailed government efforts to enhance the business
environment, including updated legislation, infrastructure development, and the
State Ownership Policy Document. Heiba also cited GAFI's work to simplify
procedures via investor service centers, offer diverse incentives and customs
exemptions, and launch the "Golden License" unit.
Heiba called for deeper investment cooperation through
information exchange, promoting available opportunities, fostering
public-private partnerships, and utilizing Algerian expertise in manufacturing,
renewable energy, agriculture, and AI. He encouraged Algerian businesses to
boost their presence in Egypt, assuring GAFI’s full support, particularly amid
expanding digital services.
Rekkache thanked the Egyptian side for hosting, affirming
the meeting as a genuine step toward strengthening bilateral ties. He noted
Algeria's comprehensive economic reforms aimed at building a resilient,
growth-leading economy supported by political and social stability.
He explained that Algeria has recently focused on backing
productive sectors and lifting restrictions on Foreign Direct Investment (FDI),
praising the positive impact of the new investment law, which provides a clear,
long-term vision for investors.
Rekkache reported notable growth in Egyptian investments in
Algeria, citing 21 registered projects and several expansion requests, which he
said reflects the success of Algerian institutions in providing a supportive
investment climate.
GAFI Vice Chairman Yasser Abbas presented on the authority's
efforts to attract FDI, reporting that net inflows reached $46.1 billion in the
2023-2024 fiscal year. He noted that Egypt ranked ninth globally in attracting
FDI and was the top destination in Africa. He also mentioned a 21.2% growth in
the number of newly established companies, totaling 46,110, alongside
expansions by 1,650 existing firms.
Dr. Dalia El Hawary, another GAFI Vice Chairperson,
emphasized that investment opportunities within Egypt's dedicated Investment
Zones are "ready for implementation," assuring investors of GAFI's
full support.
The meeting also featured presentations on Egypt’s digital
transformation of investment services, the Golden License, the investment map,
and the digitization of the investor platform. The Algerian side detailed the
AAPI's structure and its experience with the single window system for major and
foreign investments, as well as its own digital transformation efforts.
The Algerian delegation toured GAFI's Investor Service
Center and the Decision-Making Room, followed by a site visit to the Investment
Zone in Banha City to observe operational and management mechanisms.
The committee's work concluded on the second day with the signing of the meeting's minutes. Both sides agreed to hold the second technical committee meeting in Algeria in 2026.