Latest news with #GeneralAuthorityforInvestmentandFreeZones
Daily News Egypt
16-07-2025
- Business
- Daily News Egypt
GAFI chief highlights tax incentives, licensing reforms to boost mining investment
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), affirmed that Egypt's strategy to raise the mining sector's contribution to 5% of GDP focuses on deepening industrial capacity, establishing value-added chains within mining industries, and expanding logistics services, including shipping, transport, storage, and supply chain management. His remarks came during the Egypt Mining Forum 2025, held under the auspices of the Ministry of Petroleum and Mineral Resources, with the participation of prominent local and international stakeholders. Heiba emphasised that the mining sector has long represented a strategic partnership between the government and the private sector. In recent years, the Egyptian government has prioritised enhancing the sector's competitiveness through targeted investment incentives and infrastructure development, recognising the country's significant mineral potential. The GAFI chief detailed the incentives offered under the Investment Law for mining institutions, most notably the right to recover up to 50% of investment costs via tax deductions over a period of seven years from the project's commencement. Furthermore, mining projects can apply for the Golden Licence, which consolidates all required approvals and permits into a single licence issued within just 20 working days. Heiba also highlighted a range of investment systems tailored to mining projects, including special free zones and dedicated investment zones, which enable investors to complete all licensing procedures in one location. He noted that GAFI now hosts Egypt's digital company registration platform and the unified investment licensing platform, adding that the digitisation of services has significantly streamlined processes and supported growth in the mining sector in recent years.
See - Sada Elbalad
06-07-2025
- Business
- See - Sada Elbalad
Turkey's KCG Textile Launches $24 Million Expansion in Egypt's 10th of Ramadan Industrial Zone
Nada Mustafa Turkish textile company KCG has announced a new $24 million investment in Egypt's 10th of Ramadan Industrial Zone, continuing its long-standing operations in the country. The groundbreaking ceremony, held on July 6, 2025, was attended by Egypt's Minister of Foreign Trade and Investment, Hassan El-Khatib, Chairman of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, and Turkish Ambassador to Cairo, Salih Mutlu Şen. KCG's latest investment is expected to create approximately 500 new jobs for Egyptians, bringing the company's total workforce in Egypt to around 2,300. The new factory is scheduled to begin operations in October 2025. KCG, which has been operating in Egypt since 2007, currently employs around 1,800 Egyptians and produces a wide range of textile products, including window fabrics, bed linens, decorative pillow covers, tablecloths, upholstery fabrics, shower curtains, and garment textiles. The company has sales offices in United States (US), United Kingdom (UK), China, Turkey, and Egypt. With a total investment in Egypt reaching $65 million, KCG aims to increase its annual export value to $100 million. The new investment will also include the production of apparel items for global brands and markets. During the ceremony, speeches were delivered by El-Khatib, Şen, and KCG owner Yılmaz Küçükçalık. For his part, Turkish Ambassador welcomed the expansion of Turkish investments in Egypt, highlighting the geographical, cultural, and social proximity between the two countries, as well as the strength of their transportation networks and Egypt's favorable investment environment. Moreover, he emphasized that the natural and strategic ties between Egypt and Turkey make Egypt a key destination for Turkish investors. Şen also added that bilateral trade and Turkish investment in Egypt will continue to grow, calling this development 'inevitable.' Furthermore, Turkish ambassador noted that free trade agreements and shared infrastructure mean Turkey is set to remain among Egypt's top three foreign trade partners. He also stressed the importance of peace, stability, and development in the region, underlining that economic cooperation remains a priority for Turkey's approach toward Egypt. In conversations with El-Khatib, Şen praised the efficiency of Turkish companies in launching their operations, with El-Khatib agreeing and noting the high speed and quality associated with Turkish investments. Looking ahead, KCG also plans to launch a new investment in Egypt in 2026, further deepening its presence and contribution to Egypt's textile industry. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Daily News Egypt
29-06-2025
- Business
- Daily News Egypt
Fractional ownership gains ground in Egypt amid drive for innovation, market regulation
Rising property prices in Egypt have paved the way for a new investment trend: fractional ownership in real estate. This emerging model is increasingly seen as an attractive avenue for both individual and institutional investors. By allowing multiple parties to co-own shares of a property—often in premium or income-generating developments—fractional ownership reduces entry costs, distributes risk, and opens the market to smaller investors, aligning with evolving dynamics in the real estate sector. At the Fractional Real Estate Roundtable, Mohamed Youssef, Advisor to the Chairperson of the General Authority for Investment and Free Zones (GAFI) for Promotion, revealed that active discussions are underway with the Financial Regulatory Authority (FRA) to establish frameworks that safeguard investor interests in this growing segment. He also announced that GAFI is preparing a package of incentives tailored to boost investment in Egypt's real estate market. Youssef noted that Egypt's property sector has experienced remarkable growth in recent years, especially in New Alamein and the New Administrative Capital. He emphasized the potential of fractional ownership to appeal not only to local investors but also to Egyptians abroad and foreign nationals, particularly given Egypt's relative economic and political stability. Tarek Shoukry, Chairperson of the Real Estate Development Chamber at the Federation of Egyptian Industries, announced reforms in property registration procedures aimed at streamlining ownership verification. He shared that a Property Origin Certificate will now mark the starting point of the registration process, following the issuance of a national ID number for the property. In coordination with the Ministry of Communications, properties meeting criteria for electricity meter installation can obtain this national ID within 24–48 hours. Shoukry added that under-construction buildings that have received ministerial approval and building permits are also eligible for a real estate national ID within 48 hours. These changes are expected to accelerate documentation and transaction processes while improving transparency and governance in the sector. Fathallah Fawzy, Vice Chairperson of the Egyptian Businessmen's Association and Chair of its Construction and Building Committee, described fractional ownership as an innovative and promising investment mechanism. He noted that it supports the development of more inclusive and adaptive financial tools in real estate, extending access to a broader pool of investors and supporting economic diversification. Fawzy also called for the creation of a dedicated regulatory entity to oversee and support the sustainable growth of Egypt's real estate market, including its evolving investment models. Mostafa El Beltagy, Co-founder and CEO of Nawy, expressed support for the concept but flagged potential risks, particularly its vulnerability to money laundering if not properly regulated. He stressed the need for robust FRA oversight, warning that without a clear legal framework, fractional ownership could become a loophole for illicit financial activity. El Beltagy highlighted the model's potential, noting that although Egypt has a population of over 100 million, only about 100,000 real estate transactions occur annually, with just 35% driven by investment purposes. Fractional ownership, he argued, could significantly increase market participation. Salah Katamish, Senior Vice President of Investment & Strategy at Madinat Misr, emphasized the role of technology in revitalizing fractional ownership. He pointed to the company's app, Safe, launched six months ago, as a key enabler. The platform allows users to browse properties, view expected returns, and complete transactions with full transparency. Katamish stated that Safe currently focuses on rented units, offering investors the opportunity to earn immediate income, thereby improving investment appeal and credibility. Ahmed Saqr, Founder and CEO of SDC Egypt and the Farida fractional ownership platform, noted that while Egypt is viewed by foreign investors as high-risk, it also presents high-return potential. Saqr disclosed that trading property shares on the Farida platform—akin to stock exchange trading—is expected to commence in January 2026, contingent on regulatory approval. He affirmed that Egypt's real estate sector holds substantial untapped potential and that fractional ownership could play a key role in unlocking new demand. Mohamed Abdel-Gawad, CEO of Vantage Developments, echoed this sentiment, describing fractional ownership as a transformative tool for real estate investment. He explained that it allows investors to acquire shares in income-generating properties without purchasing full units, democratizing access and widening the investor base. However, Abdel-Gawad underscored the importance of a clear implementation roadmap, diversified portfolios, and robust legal frameworks to govern ownership rights, operations, and exit strategies. He warned that limiting share resale to the original development company could restrict investor exits and impact liquidity. To counter this, he proposed establishing a Special Purpose Vehicle (SPV) or investment fund managed by a professional third-party operator—who would also retain a minor equity stake. This structure, he argued, could streamline investor entry and exit, offer secondary market access, and introduce structured buyback options, thus enhancing investor confidence and long-term viability.
Egypt Today
17-06-2025
- Business
- Egypt Today
Uzbek official: Significant leap in Egyptian-Uzbek economic ties since Sisi's visit in 2018
Rasulev, in statements to MENA, said major Egyptian companies since president Sisi's visit launched operations in Uzbekistan, with investment projects becoming more diverse across multiple sectors. He highlighted the strong institutional cooperation between Uzbekistan and Egypt's General Authority for Investment and Free Zones (GAFI). A recent virtual meeting was held to enhance mutual investment promotion, share market insights, and exchange best practices, Rasulev, said. Egypt a is deemed Uzbekistan's gateway to the African continent, Rasulev said, adding that Africa's growing consumer demand comes in line with Uzbekistan's expanding industrial output. Uzbekistan aims to export its products to African markets via Egypt, leveraging the strategic Middle Corridor that connects Central Asia to the Middle East and Africa, Rasulev stated. The Uzbek official further encouraged Egyptian companies to seize the opportunity to enter Uzbekistan's market before its anticipated accession to the World Trade Organization (WTO), which would provide a strategic advantage. FDI in Uzbekistan surged from $3.4 billion in 2017 to $34.8 billion in 2024, with plans to reach $42 billion shortly and surpass $100 billion by 203, Rasulev revealed went on to say.
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
Canada's Borna to invest $40m in Egypt for natural gas recovery, carbon capture plant
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), has met with representatives from Borna, a Canadian company specializing in natural gas separation, processing, and carbon capture technologies. The meeting aimed to explore opportunities for localizing Borna's advanced technologies in Egypt, aligning with the country's broader efforts to reduce carbon emissions and transition toward cleaner energy solutions. Borna's CEO, Sam Salimi, announced the company's plan to invest $40m to establish a facility in Egypt dedicated to recovering flared gas from oil extraction and exploration operations. The proposed plant will focus on separating key gases—such as propane, butane, and methane—from flared emissions, reinjecting them into the national natural gas grid. Additionally, the facility will implement carbon capture and storage technologies, enabling Egyptian partners to participate in the voluntary carbon credit market launched by the government last year. Salimi emphasized that the initiative will offer wide-ranging benefits for Egypt, including lower energy import costs, reduced greenhouse gas emissions, and the creation of new employment opportunities. He also noted strong backing from the Canadian government and financial institutions for companies expanding into high-potential markets like Egypt. GAFI's Heiba underscored the range of incentives available to investors through Egypt's private free zones framework. These include customs and tax exemptions, expedited licensing procedures, competitive land access, and low operational fees. Crucially, Borna would be able to establish operations near oil and gas extraction sites without being confined to designated public investment zones. Heiba highlighted that the clean technologies and equipment to be manufactured at the new facility would support Egypt's compliance with global climate standards, including the European Union's Carbon Border Adjustment Mechanism (CBAM). The CBAM requires exporters to disclose the carbon content of goods entering the EU, favoring low-emission products and giving a competitive edge to exporters using cleaner technologies. The collaboration reflects Egypt's continued push to attract green investments and position itself as a regional hub for sustainable energy solutions.
