Egypt's General Authority for Investment and Free Zones (GAFI) participated in a conference hosted by the Omani embassy in Cairo as part of Oman's National Day celebrations, highlighting opportunities to expand bilateral economic and investment ties. According to a GAFI statement on Thursday, Chairman Hossam Heiba held meetings with Omani investors to deepen bilateral economic ties and promote joint ventures across sectors including industry, renewable energy, logistics, agriculture, and technology. "Egypt-Oman relations are a strong model of cooperation," Heiba said, adding that the Omani investments in Egypt total $52 million across 112 companies, placing Oman 50th among foreign investors in the country. Bilateral trade between the two nations reached roughly $858 million in 2024. Heiba said Egypt Vision 2030 is the framework for boosting investment and private-sector growth, backed by legislative reforms, stronger governance, and digitisation of customs to reduce clearance times. The reforms aim to position Egypt among the world's top 50 countries for investment and trade competitiveness over the next two years. He also emphasised Egypt's commitment to easing barriers for foreign investors and creating an environment conducive to sustainable growth, while inviting Omani companies to explore and expand operations in Egypt. The GAFI chairman concluded by congratulating Oman on its National Day and reaffirming the longstanding strategic and historical ties between the two countries. Attribution: Amwal Al Ghad English
