GAFI CEO says diversity of economy, investment systems protect Egypt against future risks

CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba said Monday that the diversity of Egyptian economy and investment systems have succeeded in protecting the national economy against global risks.

Speaking on the sidelines of a seminar organized by Marsh McLennan, Heiba said the “Egypt 2030 vision” had been designed to protect the country against future risks.

Egypt’s economy was among the very few economies that could achieve growth rates during the Covid-19 pandemic, Heiba noted.

He added that such growth continued despite regional and international crises over the past years thanks to sector diversity (industrial, agricultural and services), institutional diversity (government, private and non-formal) and investment system diversity.

Commenting on the global future risks, Heiba said that Egypt’s sustainable development strategy, “2030 vision”, gives priority to securing food supplies, improving the health and education sectors, optimally using resources, increasing dependence on renewable energy and protecting the environment.

All this is done with the aim to achieve sustainable economic growth, Heiba noted.

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