Under the efforts of the current Egyptian president Abdelfattah El Sisy and his government to attract new investors. The Egyptian government has created a new network of easy and reliable ways to reach production and distribution outlets. This has greatly increased the number of successful projects that have started in Egypt including industrial, agricultural, constructional and educational. This in turn has had a great impact on Egypt’s economy, which has been on a steady rise in recent years.
Furthermore, GAFI (the General authority of investments and free zones) has worked tirelessly to bring the investments in Egypt to a new level, they’ve created a new method for dealing with investors that has enabled them to increase the speed at which they perform an investor’s request. For these reasons GAFI has started a new campaign under the name “Invest in Egypt” this campaign unites all of Egypt’s investment opportunities under one name to attract all kinds of investors from around the world , they’ve also created a new investment map which provides a detailed look at all the investments available in every sector. In addition to all of that GAFI has also reached an agreement with the various governmental branches to use the “invest in Egypt” movement, for any work related to attract or market investment opportunities and also to create specific marketing techniques/messages for every available sector in the investment map, which will provide diversity in the economic growth especially in the targeted sectors. “Invest in Egypt” is also available online to attract a wider range of investors.
There are also new facilities and investment incentives that allow the subtraction of lands in certain situations to attract substantial investors, innovators, and manufacturers to projects that are worth more than 300 million LE (Egyptian pounds) in hopes that these major projects create a quantum leap in Egypt’s economic activities, not only that but the more the projects the more employees they’ll need which will drive Egypt’s unemployment rate down , that is why it is important to provide legal protection from the political and organizational dangers not only will that put the dangers at a limit but, it will also cause an increase in investments and growth.
To insure that the effort put into promoting investments in Egypt leads to success they must perpetually make innovations and improvements in order to achieve the following goals:
1. Innovate and improve the investment map to include the most prominent investment opportunities
2. Distribute the investment opportunities geographically on the investment map for Egypt. Also make the infrastructure statement and the specific advantages of every region available to see by investors, in addition to that the investment map should also reserve the most prominent sectors for the major investors that helped by providing more serious and effective technology that should help get Egypt into the global export network which in turn will lower the cost of production and increase the chance of exporting goods in order to attract foreign investors from top nations.
3. The second version of the investment map should contain 2000 new investment opportunities which would raise the total investment opportunities to 3000, while also including the opportunities’ data and coordinates. The map should also contain all types of investment opportunities whether it is free zones, technological or industrial, while also showing national projects that you can invest in ex: New Administrative Capital, Galala City, New Alamein City, Suez Canal Economic Zone, Reclamation of 1.5 Million Acres project, and The Grand Egyptian Museum. The investor should also be able to obtain detailed information about everything related to the investment opportunity and its surroundings such as Investors service center and the services it provides, the utilities and services available near the investment opportunity, the average wages, unemployment rate, and the population of the nearest governorate to the investment opportunity.
Lastly, these efforts have proven successful as stated by the world investment report by the UNCTA (United Nations Conference on Trade and Development), Africa has succeeded in attracting the Foreign Direct Investment (FDI), where the financial flow has risen to 46 billion US Dollars in 2018 which is 11% more than the year before. The report also stated that Egypt topped the continent and especially the North African countries by getting foreign direct investments through the last six years that total for about 38.098 billion US Dollars, when broken down by the report it is stated that Egypt got 4.256 billion US Dollars in 2013 then 4.612 billion US Dollar in 2014, 6.925 billion US Dollars in 2015, 8.107 billion US Dollars in 2016, 7.409 billion US Dollar in 2017, and lastly 6.789 billion US dollars in 2018.
As you can tell Egypt has been seeing a steady rise in investments which is directly caused by the valiant effort of the Ministry of Investment and International Cooperation in attracting investors and creating the right climate for them, that is besides the legislative changes that have occurred due to the recent economic success all thanks to the recent rise of investments in Egypt.