Contact Developments launches Quan Iconic Tower at New Capital with EGP 1.5bn investments    Egypt retrieves 3 Pharaonic, Greco-Roman era artefacts in London    Sisi stresses need to safeguard, develop Awqaf funds    IOM Egypt, EU delegation inaugurate Watan Medical Centre to serve Egyptians, migrants    Microsoft debuts Windows 11, first major update in 6 years    Cairo to host fifth round of Eurasian Economic Union free trade talks in November    Hyundai Rotem signs $110 million deal to upgrade railway signal system in Egypt    Egypt launches Tamayoz, an index for SMEs    US, EU condemn airstrike on Ethiopia's Tigray market which left 51 dead    Egypt's Suez Canal Authority announces solution on impounded Ever Given    Egypt ready to support manufacture of COVID-19 vaccines in Africa: Prime Minister    Egypt Government policy of fiscal, monetary policy harmony reduced COVID-19 repercussions: Finance Minister    Egypt recovers 114 artefacts smuggled to France    Egypt's Hegazi available for Tokyo Olympic Games, Mostafa Mohamed doubtful    Tennis: Australia's Purcell upsets top-seeded Monfils in Eastbourne    Expert: Transgender Olympic athlete could polarize opinion    MEP questions Washington's logic of hyping up China threat for military expansion    Merkel: Europe 'on thin ice' amid delta virus variant rise    Russia in showdown with UN and West over aid to Syria    'Scary' Sydney virus cluster blamed on delta variant grows    Euro 2020 brings back long-forgotten memories of glory for qualifying teams    Manchester City's Riyad Mahrez gets engaged to British model Taylor Ward    Egypt's delay in including Mo Salah, Mostafa Mohamed at Tokyo Olympics raises concern    In Video: Egypt recovers 114 ancient artefacts smuggled into France    Sudan calls on UN Security Council to intervene in GERD dispute    Egypt, Germany discuss bilateral relations, GERD developments    Egypt's Health Minister reviews precautionary measures during Cairo Book Fair    Egypt's FM discusses bilateral relations with German counterpart    IMF approves final tranche of Egypt's SBA loan programme    Egypt's Senate commences fulfilling its obligations under clear jurisdictions: Ahmed Diab    Egypt extends 'Kings of the Sun' exhibition in Prague until 30 September    Egypt's CBE extends its preventive measures against pandemic's negative impacts through end of 2021    Don't miss Romeo and Juliet ballet shows at the Cairo Opera House    Arab history at the Institute    The second filling    Egypt opens its first anaerobic gasification unit    Egypt keen on negotiation leading to binding deal on GERD, irrigation minister tells S.Sudan's officials    HSBC earmarks funding to a coastal ecosystem restoration project in Egypt    Egypt accuses Ethiopia of using GERD crisis for political purposes    Egypt's Water Resources Minister in South Sudan for cooperation talks    APO Group enters new exclusive agreement with Getty Images on African press releases and images    Egypt is on short list of partner countries for U.S. COVID-19 vaccines: embassy    Russia to resume charter flights to Egypt resorts in the coming days    Egypt's Sisi announces allocation of $500 million for reconstruction in war-wrecked Gaza    On International Museum Day, Egypt opens two new museums at Cairo Airport    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





PM Madbouly holds first meeting of ‘stimulating investment ministerial group'
Businesspersons suggest collaboration with international marketing companies to promote the country's investment opportunities
Published in Daily News Egypt on 11 - 01 - 2020

Prime Minister Mostafa Madbouly held the first meeting of the stimulating investment ministerial group last Friday.
The meeting included Mohamed Abdel Wahab, acting CEO of the General Authority for Investment and Free Zones (GAFI); Ibrahim Al-Araby, chairperson of the Federation of Egyptian Chambers of Commerce (FEDCOC); Mohamed El-Sweedy, chairperson of the Federation of Egyptian Industries (FEI), and several businesspersons.
This ministerial group is part of the country's plan to maximise investment opportunities, encourage businesspersons to inject investments in development projects, and set a new attractive environment for investments.
Madbouly said: "The latest cabinet reshuffle in December 2019 witnessed transferring the supervision of GAFI to the cabinet. That's why I decided to form this group, in order to properly coordinate with different governmental entities and private sector organisations."
Investment in Egypt faces accumulated issues, some of them were solved over the past period, but others still pending, Madbouly added, noting that the cabinet issued recently the new Investment Law.
The ministerial committee to stimulate investments also includes the Central Bank of Egypt's (CBE) Governor Tarek Amer, Minister of Tourism and Antiquities Khaled Anany, Minister of Planning and Economic Development Hala El-Said, Minister of International Cooperation Rania Al-Mashat, and Minister of Finance Mohamed Moeit.
The ministerial committee also includes Minister of Local Development Mahmoud Shaarawy; Minister of Housing, Utilities and Urban Communities Assem Al-Gazzar; Minister of Agriculture and Land Reclamation El Sayed El Kosayar; Chairperson of the Suez Canal Economic Zone Yehia Zaki; and Minister of Trade and Industry Nevine Gamea.
"We're very keen on the direct contact with Egyptian investors. This group will add new members during future regular meetings," Madbouly mentioned, asserting the governmental efforts to follow up on the implementation of recently launched initiatives to encourage industry and investments.
The participating investors praised the cabinet's efforts to stimulate investments, calling for facilitating licencing procedures of hotels.
Investors recommended the automation of administrative entities to accelerate administrative procedures. They also suggested collaboration with international marketing companies to promote the country's investment opportunities.


Clic here to read the story from its source.