Cairo: Chief Executive Officer (CEO) of the General Authority for Investment and Free Zones (GAFI), Mohamed El-Gossaki, emphasized Egypt's intention to enhance its investment partnership with Hungary. This initiative is part of the Ministry of Investment and Foreign Trade's strategy to diversify target markets and attract foreign investments that facilitate technology transfer and bolster local manufacturing.

According to State Information Service Egypt, El-Gossaki made these remarks during a meeting with Hungarian Ambassador in Cairo, Rita Viktorija Herrencs¡r. The discussion focused on prospects for joint investment cooperation, aligning with directives from Minister Mohamed Farid Saleh to strengthen economic ties with international partners and promote Egypt externally.

El-Gossaki noted that Egyptian-Hungarian relations are progressing steadily, highlighting the robust political and economic connections between the two nations. He mentioned the diverse spectrum of Hungarian investments in Egypt, spanning sectors such as tourism, industry, services, agriculture, construction, communications, and information technology. The focus in the upcoming phase will be on attracting investments that add value and enhance exports to regional and international markets.

The Hungarian ambassador acknowledged Egypt's efforts to enhance the investment climate, commending the reforms aimed at increasing the market's appeal.

The meeting concluded with both parties agreeing to maintain joint coordination, aiming to increase investment and trade volumes, and encouraging the formation of new industrial partnerships to further the strategic partnership between Egypt and Hungary.