The General Authority for Investment and Free Zones (GAFI) hosted the first meeting of the Egyptian–Algerian Technical Committee for Investment Cooperation, chaired by Hossam Heiba, CEO of the Authority, representing the Egyptian side, and Omar Rkach, Director General of the Algerian Investment Promotion Agency, representing the Algerian side. The meeting was attended by Yasser Abbas and Dalia El-Hawary, Deputy CEOs of GAFI, along with a high-level delegation of senior officials from the Algerian Investment Promotion Agency. Heiba said the meeting marks an important step in strengthening economic relations between the two countries and steering investment cooperation toward broader horizons. He noted that Egypt is currently undergoing comprehensive strategic transformations in its investment climate, supported by an economic approach focused on empowering the private sector and reforms centred on transparency, governance and the rule of law. Heiba reviewed key reforms undertaken by the Egyptian government to improve the business environment, including updates to economic legislation, major infrastructure development, adoption of the State Ownership Policy document, and GAFI's efforts to streamline procedures through Investor Service Centres. He also highlighted various investment incentives, customs exemptions, the establishment of the "Golden Licence" unit, and the investor guarantees system, all of which aim to reinforce confidence and stability. The CEO stressed the importance of deepening investment cooperation between Egypt and Algeria through information exchange, promotion of available opportunities, and encouraging partnerships between the private sectors of both countries. He also emphasised the value of drawing on Algerian expertise in manufacturing, renewable energy, agriculture and artificial intelligence. Heiba called on Algerian investors to strengthen their presence in Egypt and explore promising opportunities, confirming the Authority's readiness to provide all necessary facilitation, particularly with the expansion of digital transformation services. For his part, Omar Rkach said the meeting represents a significant step toward enhancing bilateral relations. He noted that Algeria is pursuing comprehensive economic reforms to build a resilient economy capable of sustaining growth and supporting political and social stability. Rkach explained that Algeria has recently prioritised support for productive sectors and lifted restrictions that previously hindered foreign direct investment. He praised the positive impact of the new investment law, which offers investors a clear long-term framework. He added that Egyptian investments in Algeria are witnessing notable growth, with 21 projects registered for Egyptian investors and several expansion requests underway, reflecting the effectiveness of Algerian institutions in providing a supportive investment environment. Meanwhile, Yasser Abbas presented GAFI's efforts to promote and attract foreign direct investment, noting that net inflows reached $46.1bn in FY 2023/2024, placing Egypt ninth globally among the most attractive investment destinations and first in Africa. He added that the number of newly established companies increased by 21.2% to 46,110, alongside expansions by 1,650 existing companies. He also highlighted competitive advantages, financial reforms, targeted sectors, investment incentives and the new export cost reimbursement programme. For her part, Dalia El-Hawary stressed that the investment opportunities within investment zones are genuine, complete and ready for implementation, confirming GAFI's readiness to provide full support to investors. The meeting included presentations on Egypt's digital transformation efforts in investment services, the Golden Licence, the investment map and the digitalisation of the investor platform. The Algerian side presented an overview of the Algerian Investment Promotion Agency, including the implementation of its one-stop-shop system for major projects and foreign investments, decentralised service windows and the digital transformation of its investor platform. A field visit was also organised for the Algerian delegation to the Investor Service Centre and the Decision-Making Room at GAFI headquarters. The delegation later toured the Benha investment zone, where they reviewed operational procedures, service management and Egypt's overall experience in developing a competitive business environment. GAFI provided a comprehensive overview of its experience in establishing and managing investment zones, highlighting key practical models used to enhance investment readiness, support investors, deliver post-investment services and promote entrepreneurship—reflecting significant progress in Egypt's investment ecosystem. The Technical Committee concluded its activities with the signing of the meeting minutes and an agreement to hold the second meeting of the Egyptian–Algerian Technical Committee for Investment Cooperation in 2026 in Algeria.
