Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), has met with Vietnamese Deputy Minister of Finance Tran Quoc Phuong and his accompanying delegation to discuss ways to enhance investment and trade cooperation and increase capital flows between the two countries. Both sides reviewed the competitive advantages of the investment environment in their respective countries. Abbas stressed the importance of strengthening bilateral investment ties, noting the establishment of the first wholly Vietnamese-owned factory in Egypt last year. He said this step paves the way for further Vietnamese investments in the Egyptian market, particularly in priority sectors under both countries' development plans, such as textiles and ready-made garments, home appliances, electric vehicles, and petrochemicals. Abbas invited the Vietnamese side to explore available investment opportunities and see first-hand the incentives and guarantees offered, especially after Egypt implemented major reforms across economic, legislative, and infrastructure fronts. These efforts helped Egypt rank ninth globally in foreign direct investment inflows last year. For his part, Tran praised Egypt's efforts to create an attractive investment climate, highlighting the diversity of investment models including free zones, investment zones, tech zones, and internal investment frameworks. He also welcomed the range of tax and non-tax incentives tailored to meet the real needs of production in each sector. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
