Heiba outlines plans to boost Kuwaiti investments in Egypt
Updated 4/27/2025 12:53:00 PM
Arab Finance: CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba participated in the joint meeting of the Egyptian-Kuwaiti Cooperation Council, where he outlined plans to enhance investment flows between the two nations, as per a statement.
During the meeting, Heiba announced that the Egyptian government is working to implement President Abdel Fattah El-Sisi’s directive to simplify the business environment by abolishing various fees imposed by government agencies. These will be replaced by a unified additional tax based on net profits, with the new system expected to launch in the coming months.
This reform is expected to significantly improve Egypt's business climate and attract more investment.
Heiba further emphasized Egypt's ongoing investment strategy, which focuses on attracting investments that can help export goods and services globally.
The government aims to increase the private sector's share of total investment to 70% by 2030, while boosting exports to $145 billion.
Heiba also spoke about Kuwait’s role in Egypt’s investment landscape, noting that net Kuwaiti direct investment flows to Egypt amounted to $6.2 billion in the post pandemic period from fiscal year 2021/2022 to FY 2023/2024.
Kuwait is the fifth laregest investing country in Egypt, with investments across 1,500 companies, particularly in the financial, industrial, real estate, tourism, and service sectors.
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