Arab Finance: The General Authority for Investment and Free Zone (GAFI) has signed a memorandum of understanding (MoU) with HSBC Bank Egypt to back the authority’s strategy of luring foreign direct investment (FDIs) to Egypt, an emailed press release showed.

As per the MoU, GAFI will attract investors via HSBC’s international network that links Asia to Europe and the Middle East.

Furthermore, HSBC will introduce business opportunities in Egypt to international investors.

For its part, GAFI will provide HSBC with information on the investment opportunities in Egypt, including the targeted sectors of top priority.

This move is part of the Egyptian government’s plan to boost the private sector’s role in the local economy.

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