Gafi Chief – $2.8 Billion Direct Foreign Investments in First Half of 2014

General Authority for Investment (GAFI) Chairman Hassan Fahmy met Thursday 15052014 with members of the energy committee of the Egyptian federation of investors’ unions.

Fahmy said that the foreign direct investments which entered the Egyptian market registered three billion within the financial year 20132012 year, while the foreign net investments in the Egyptian market reached $2.8 billion within the first half of the ongoing year.

During the meeting, Fahmy said that the government aims at stimulating economic activity and pumping investments of around EGP 291 billion with about 60% contribution by the private sector, in the framework of targeting achievement of comprehensive development.

He discussed the domestic political and security situations and their impact on the investment.

GAFI chief also tackled the efforts made by the government to encourage the investment atmosphere and facilitate the investment process.

For their part, the investors called for legislative amendments that increase the powers of the Investment Authority to overcome the obstacles, which face the investors.

Source : Egypt State Information Service