Cairo: As part of the Ministry of Investment and Foreign Trade's ongoing efforts to enhance investment attraction from major global markets, the CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed El-Gousqui, met with the French Ambassador to Cairo, ‚¬Å¡¬°ric Chevallier, to discuss strengthening bilateral cooperation.

According to State Information Service Egypt, El-Gousqui highlighted the robust relations between Egypt and France, reinforced by a historic meeting last year between President Abdel Fattah El-Sisi and President Emmanuel Macron. Economic ties have long been a cornerstone of this relationship, with approximately 200 French companies operating in Egypt and investing around $8 billion.

El-Gousqui detailed the improvements in Egypt's investment climate, citing legislative and regulatory reforms that have enhanced the business environment. He emphasized Egypt's strategic position as a regional hub for industry and logistics and its role as a gateway to African and Middle Eastern markets.

Digital transformation was also a key focus, with El-Gousqui noting the increase in services provided through the electronic licensing platform, from 389 to 440. Plans are underway to launch the Economic Entities Platform, aimed at covering the entire investor lifecycle to boost efficiency, reduce costs, and attract further investments, particularly from France.

El-Gousqui underscored the government's commitment to empowering the business community through a stable and transparent environment, supported by infrastructure investments exceeding $550 billion over the past decade.

Ambassador Chevallier affirmed the strong economic partnership between France and Egypt, noting France's status as the leading European investor in Egypt outside the energy sector. He praised Egypt's efforts to improve the business environment and facilitate trade and digital services, emphasizing the importance of continued collaboration between GAFI and Business France.

The French Embassy invited GAFI to participate in the upcoming French Business Forum in Paris and Lyon, which will feature participation from French government institutions and companies. This forum represents a significant opportunity to attract new French investments to Egypt.