Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), said the volume of foreign investments flowing into Egypt hit dlrs 22 billion until June 2022, which is the highest in Egypt’s history.
This came during the first session of a discussion panel of the private investment committee which is held within the framework of the national dialogue.
Heiba said this shows that Egypt is capable of luring more investments.
He noted that the net direct foreign investments stood at dlrs 8.9 billion, which is the best record in the past 10 years.
He referred to the amendments of laws of the small and medium sized enterprises and emerging companies, noting that a cabinet unit was established to help entrepreneurs.
He added that the Interior Ministry decided last Saturday allowing foreign investors filing at GAFI to get one-year residency visas that can be renewed for additional six months or one year in order to establish their economic entity.