The General Authority for Investment and Free Zones (GAFI) hosted the Sudanese Businessmen Forum, bringing together key stakeholders from Egypt and Sudan. The event was attended by Hossam Heiba, CEO of GAFI; Yehia El-Wathik Bellah, Head of the Commercial Representation Authority; Imad Eldin Mustafa Adawi, Sudan's Ambassador to Cairo; and representatives from various Sudanese companies operating in Egypt. The forum focused on enhancing cooperation between the Egyptian government, the Sudanese Embassy, and Sudanese chambers of commerce and industry. The discussions aimed to address the needs of Sudanese companies looking to establish projects in Egypt. Hossam Heiba encouraged the Sudanese business community to take advantage of Egypt's infrastructure development, particularly in free zones located in southern Egypt. He emphasized the Qift Free Zone in Qena, just 170 km from the Safaga export port, and the Aswan Free Zone, which is currently undergoing infrastructural improvements. These zones provide strategic advantages for Sudanese investments, particularly in raw materials and intermediate industries. Additionally, businesses in these zones benefit from special investment incentives as part of Egypt's priority development regions. Heiba also announced that dedicated incentive Programmes are being prepared to support young Sudanese entrepreneurs, in collaboration with Egyptian and Sudanese stakeholders. These Programmes will complement existing incentive packages for economic activities that contribute to the development of both countries. Sudan's Ambassador to Cairo, Imad Eldin Mustafa Adawi, expressed his gratitude to GAFI and the Commercial Representation Authority for facilitating trade and investment cooperation between the two nations. He highlighted the Sudanese business community's eagerness to contribute to Egypt's economic growth and called on Sudanese investors to seize the opportunity to strengthen ties between the two countries. Adawi also pointed to the success of the first Egypt-Sudan Business Forum held last November and announced that the second forum would take place in Sudan in April. These forums, along with the Sudanese Businessmen Forum, serve as crucial platforms for building economic cooperation, connecting Sudanese investors with opportunities in Egypt, and coordinating joint efforts for the reconstruction of Sudan. Yehia El-Wathik Bellah, Head of the Commercial Representation Authority, underscored the importance of leveraging the long-standing geographic and historical ties between Egypt and Sudan to enhance trade and investment collaboration. He shared that Sudanese investments in Egypt amount to $240m, while Egyptian investments in Sudan total $1bn. Bilateral trade between the two nations reached $1.4bn in 2023. El-Wathik Bellah highlighted recent improvements in Egypt's investment and trade environment, which are poised to further strengthen economic cooperation. These improvements include modernized ports, reduced logistics costs, numerous trade agreements, and simplified investment procedures, particularly for small and medium-sized enterprises. Egypt has also introduced investment systems tailored to the needs of various investors. Sudanese investors at the forum expressed their appreciation for the Egyptian government's support, including preferential treatment for Sudanese investors. They noted that the new generation of Sudanese entrepreneurs is increasingly focused on linking with the Egyptian economy, particularly in industries like textiles and food production, to meet local demand and expand export potential.
