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Egypt is planning to lure foreign direct investments (FDIs) of $25 billion within five years, said Chairman of the General Authority of Free Zones and Investment (GAFI) Hossam Heiba.
Egypt is forecasted to inject around $12 billion in FDIs within FY 2023/2024, to record between a 15% and 20% surge.
Egypt also mulls green and renewable energy projects as nine framework agreements in these fields have been signed since COP27, with $50 billion in investments over 10 years, Heiba noted.
He also referred to Egypt’s keenness to attract investments in the home appliances business and the automotive industry. 5 golden licenses out of 26 so far were granted to companies operating in home appliances.
