GAFI’s CEO participates in Africa-Singapore Business Forum

Updated 9/3/2025 12:54:00 PM

Arab Finance: Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), participated in the Africa-Singapore Business Forum, according to a statement.

The forum was organized by Enterprise Singapore, the government agency responsible for developing the country's corporate sector. It was attended by 700 representatives from governments and businesses across Asia and Africa.

The discussion sessions addressed several key issues, most notably opportunities for African economic integration following the launch of the African Continental Free Trade Area (AfCFTA).

They also highlighted prospects for the use of financial technology (fintech), logistics, smart urban growth in emerging markets, the carbon trading market, and the expansion of renewable energy sources.

On his part, Heiba reviewed the government's efforts to stimulate investment flows to Egypt, which have resulted in Egypt ranking ninth globally and first in Africa among countries receiving investment worldwide, with net investment inflows amounting to $46.1 billion in the fiscal year (FY) 2023/2024.

The CEO emphasized that enabling the local and foreign private sector to drive growth is a top priority for the Egyptian government, underlining the exerted efforts to create an infrastructure environment to attract new investments, particularly in the real estate, new and renewable energy, digital transformation, and financial markets sectors.

He also discussed expansion opportunities and the establishment of new facilities with Singaporean companies operating in Egypt, including Tolaram Group, which specializes in food and hygiene products, infrastructure, and digital services.

Moreover, the visit aimed to meet with the Singaporean business community through a roundtable discussion, held in cooperation with the Singapore Industries Federation (SBF), which included 30 major Singaporean companies interested in investing in Egypt.