Arab Finance: Hossam Haiba, CEO of the General Authority for Investment and Free Zones, received a high-level economic delegation from Hong Kongheaded by Nick Chan, Hong Kong Representative in the Chinese People's Congress, Herman Tse, Head of Commercial and Professional Services at the Hong Kong Investment Promotion Agency “Invest HK”, and representatives of many Hong Kong governmental and private economic institutions, to discuss investment opportunities in the Egyptian market.
Heiba ​​said that the investment dialogue with the People's Republic of China and Hong Kong has always been fruitful, because the Hong Kong government considers Egypt as an investment gateway to Africa and the Middle East, and that is why companies from China and Hong Kong top the list of countries exporting investment flows from East Asia to Egypt.
The CEO of the Authority reviewed the latest developments in the investment environment in Egypt, the most important of which is the golden license that includes all the permits that companies in Egypt need for establishment, construction and operation. He pointed out that a number of Chinese companies have already benefited from the golden license and have begun operating and pumping their products into the Egyptian market and other markets. Foreign Ministry, indicating that the Egyptian government aims for Egyptian factories to be the main producers of Chinese brands in the continent of Africa and the Middle East region.
Heiba ​​explained to the Hong Kong delegation that the Egyptian government announced this month a package of tax incentives to encourage investment, with an emphasis on coordination between fiscal, monetary and investment policies in the coming years to achieve the government’s goal of attracting investment for export.
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