Chairman of the Investment Authority: Infrastructure projects attracted investments to Egypt

Dr. Hossam Haiba, Chairman of the General Investment Authority, stressed the importance of President Abdel Fattah El-Sisi’s participation in the opening of the eighth edition of the meetings of the Board of Governors of the Asian Infrastructure Investment Bank.

The investment file in Egypt is witnessing a major boom

Hossam Heiba said, in television statements with journalist Amr Khalil, on the “Min Masr” program broadcast on CBC, that the investment file in Egypt is witnessing a major boom, especially with the start of economic reform and the implementation of infrastructure projects, as a factor that attracts investments.

The construction of roads and the provision of facilities caused a great boom

Hossam Heiba continued: “Any project required for roads, water, electricity, gas, export and import. Egypt started that wonderful piece and created a big boom, in light of the new nerve infrastructure projects, which became a path of admiration, eased and unforgettable to think about studying different projects to reach the Middle East.” And Africa through Egypt, and access to Egypt’s expert infrastructure, ports, airports, and simple electricity in various industries.”

Hossam Heiba, CEO of the General Investment Authority, said that there is a re-arrangement of papers in different economies, and although there is a relative decline in global foreign investment, it has increased in Egypt over the past two years, and compared to last and current year it has increased by 70%.

He pointed out that there are countries in which there have been inflows of foreign investments, such as India, Egypt, and sister Arab countries, and thus global markets in general are being rearranged, which represents very great opportunities that Egypt can benefit from, and this is the goal currently.

Reformulating the investment system

He pointed out that the investment system in Egypt is being clearly reformulated, and the 22 decisions from the Supreme Council for Investment are one of the steps to restructure the investment system in Egypt. He continued: “We are working on launching a digital platform to provide services to investors, and we have completed 95% of it so far.”

Switzerland and its investments in Egypt

In this regard, it must be noted that the Swiss are ranked fifteenth on the list of the most important countries in Egypt, with investments amounting to approximately $2.2 billion in 433 projects, according to Minister of Trade and Industry Ahmed Samir.

The volume of trade exchange between Egypt and Switzerland

The volume of trade exchange between Egypt and Switzerland increased by 7.8%, to record $1.52 billion in 2022, compared to $1.41 billion in 2021.

Bilateral relations

Within the framework of strengthening bilateral relations between Egypt and Switzerland, the Minister of Trade and Industry and the Swiss Secretary of State for Economic Affairs, Helen Budliger, attended the new ministry’s headquarters in the Administrative Capital.