Transcript www.ecs.gov.eg

0
Egypt at a Glance
• GDP growth rates were at 1.8% during FY 2010/2011 and it
reached 2.2 % in FY 2011/2012.
• Net international reserves reached
to USD 15.0 bn. by the end
of Nov. 2012.
• FDI in Egypt recorded a net inflow of around US$ 2.1 billion in FY
2011/2012 (against US$ 2.2 billion in FY 2010/2011). It reflected the
decrease of 4.5 % due to 25th Jan revolution
• Annual Inflation rate has reached 4.25% in Nov. 2012, after it had
been 6.7% in Oct. 2012 , after declined to 6.2% in Sep. 2012
,compared to 6.4 % in Aug & July .
• Unemployment rates: 12.6 % during the 3rd quarter of 2011/2012 .
• Egyptian exports were worth $ 7.0 billion during 1st of FY 2012/2013
while imports were worth $ 16.0 billion during the same period.
• Exchange rate for the USD 1st of FY 2012/2013 : ( 6.08 ) EGP.
Source: CBE
Macro Overview | 2012-Economic Impact
Investment and Economic Growth
EGP Billion
6.9
200
150
100
50
0
145
4.7
4.6
46
Percent
7.2
7.1
66
129
97
168.2
127
95.5
5.1
1.8
2.2
The release 2011/12 data shows a rise
in real GDP growth reached 2.2%
8
6
4
2
0
Sectoral Breakdown of Total Investments
in FY 2011/2012
2.3%
12.0%
7.9%
Private Investment
29.6%
Real Economic Growth
7.2%
GDP Quarterly Growth Rates
3.9%
Percent
8
6
4
2
0
-2
-4
-6
2.5%
4.1 4.3 4.5
5
5.6 5.4 5.5 5.6
13.7%
18.2%
5.2
3.3
0.4 0.2 0.4
Agriculture
Manufacturing
Construction
Suez Canal & Transportation
Trade
Tourism
C.I.T
Social Services
Water & Electercity
-4.2
Source: Ministry of Planning
Growth & Investment
168.2
144.7
126.7
95.5
129.1
97.3
66.3
46.4
190
170
150
130
110
90
70
50
30
10
37.1
 The establishment of the
Investors Dispute Settlement
Center within GAFI.
Private & Public Investments
EGP Billion
33.6
 Since
2004,
Egypt
has
implemented 22 reforms to
improve
the
investment
climate.
 The establishment of special
economic courts to expedite
dispute settlement resolutions.
Private Investment
Public Investment
Private Investments / GDP
Private Investments / Total Investments
80%
60%
57.3%
49.4% 46.6% 48.1%
40%
20%
0%
Source: Ministry of Planning
62.6% 64.7%
56.5%
48.4%
63.2%
69.2%
16%
14%
12%
10%
8%
6%
4%
2%
0%
15.1%
13.1%
11.4%
8.6%
8.1%
9.2%
9.6%
11.0% 10.6% 10.9%
3
Risks: Rising Budget Pressures
Gross Domestic Debt / GDP
95.1%
100%
90%
80%
70%
60%
50%
40%
30%
84.7%
73.5%
2005/2006
2006/2007
2007/2008
72.5%
2008/2009
2010/2011
2011/2012
Fiscal Deficit / GDP
12%
11.0%
9.5%
10%
8%
2009/2010
79.6%
76.2%
73.6%
8.2%
7.5%
8.1%
6.8%
6.9%
6%
4%
2%
0%
2005/2006 2006/2007 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012
Source: Central Bank of Egypt
• Fiscal deficit to GDP recorded 9.5%
in FY2010/2011 and 11% for 9m
11/12
• In spite of improving tax revenues,
GOE
expenditures,
namely
subsidies, interest payments , and
wages maintained a double digit
growth in Q311/12
• Current negotiations with the IMF/
WB and other financing packages
should impact positively on the
borrowing costs and in turn the
fiscal deficit
Macro Overview | Longer-Term Outlook
Solid
Fundamentals
Location
“New Egypt”
Democracy
Demographics
Commitment to
Economic Reform
&Social equality
Cost Edge
Clear
Governance
Economic
Reform
Investor
Confidence
Reduced
Corruption
Investment
Growth
Improved Macro
Fundamentals
&
Growth Potential
Why Invest in Egypt
• A sustained growth rate of 7% over the period between 2005 and 2008.
• Despite being affected by the current political unrest during the FY 2010/2011
growth rate which was 1.8% , and it reached 2.2 % in FY 2011/2012.
• Egypt has a diverse economy.
• A large population and hence a large consumer market where per capita income
was at EGP 17.052 in 2010/2011.
• At around 26.9 million in Q2 2012, Egypt has the largest labor pool in the region
with a competitive labor cost.
Egypt’s New Objectives
• Real growth rates are reached 2.2 % in
2011/12.and is expected to reach 3.1 % in FY
2012/13
• Reducing inflation; with the aim of bringing
inflation levels closer to those of neighboring
countries.
• Maintaining a flexible exchange rate set by free
market forces, while avoiding short term volatility.
• Upgrading the quality of government services.
• Social policy reform through expanding social
security nets and promoting pro-poor programs
while reforming the subsidy structure.
GDP Growth Rates at Market Prices
(%)
8
6
4
2
0
GDP Growth Rates at Market Prices (%)
The Ease of Doing Business
• Time to establish a company: 72 hours
• One Stop Shops gather all sectors and entities dealing with investors.
• Removing restrictions on minimum capital of limited liability companies and reducing
incorporation fees.
• Launching the first phase of electronic establishment of companies through the
internet (in Arabic)
• Property registration fees reduces where cap is at EGP 2000
• Establishing the Egyptian Credit Bureaus (i-score)
• 20% flat tax rate, according to the Tax Law No. 91 of 2005.
• Reducing the time necessary to register property from 72 to 38 days.
• Introduction of Nilex; The region’s first small cap stock exchange
• Reducing the average custom tariff to 6.9% while tariff items have been reduced to
six items only (previously 27).
Source: CBE
Low Cost of Doing Business
• Competitive tax rates - corporate and
personal tax rates top out at only 20%
Corporate & Income Tax Rate in Egypt and
other countries (%)
South Africa
Tunisia
• Developed
infrastructure
with
15
commercial ports in addition to 44
specialized ports to serve importers
and exporters, an expanding airport
network catering to both passengers
and cargo.
• An abundance of natural resources
and competitively priced water, power
and gas.
Source: CBE, Ministry of Investment
Morocco
Greece
France
Italy
Malta
Turkey
Egypt
0
Income Tax Rate (%)
20
40
Corporate Tax Rate (%)
60
Preferential Access to Key Global Markets
The EU – Egypt Association Agreement grants Egypt
preferential access to the EU market of 500 million
The EFTA-Egypt Free Trade agreements grants access
to the markets of Iceland, Liechtenstein, Norway
and Switzerland in industrial and agricultural
products.
Free duty access to the US market of 300 million
customers through the QIZ protocol.
The COMESA, a common market for Eastern and
Southern Africa creates a free trade area among
the 19 member states.
AGADIR Declaration creates grants Egypt a free trade
zone between Egypt, Morocco, Jordan, and Tunisia
in addition to a rules of origin advantage.
Egypt – Turkey free trade agreement
GAFTA: ratified by 22 Arab nations, involving the
phasing out of customs and duties while
non-tariff barriers
Source: eliminating
CBE
Support and Incentives for Investments
• The process of registering foreign company subsidiaries to only three days of processing time.
• The time to open foreign representation offices; 3 days while simplifying administrative steps
related to establishing a business.
• Enhancing import and export flexibility through import and export certificates that are available
for 3-5 year periods.
• New facilities for investors include:
§ Paying subscription fees to chamber of industry and the federation of Egyptian industries
at the one stop shop
§ Increasing GAFI’s processing centers.
§ Lifting the security approval requirement for media companies. As well as lifting licensing
requirements for print publications.
§ An initiative to provide resources for a credit risk guarantee program to help develop
SMEs and help them gain access to bank financing.
Support and Incentives for Investments
• A stimulus package has been introduced by The Ministry of Industry to facilitate investments
in the industrial sector through:
 Reducing the value of Letters of Guarantee required to acquire land from industrial zones.
 Inspections by the Industrial Development Agency(IDA) are to be done upon request by
the IDA chairman.
 Enforcing the role of IDA representative offices in governorates to issue all required
approvals, except for land allocation.
 In case of fulfilling required terms of issuing an industrial registry, a permanent industrial
license is issued and renewed every 5 years.
Support and Incentives for Investments
• The issuance of Law no. (11) for year 2012 which provides incentives for taxpayers
on the full or partial payment of their deferred income/sales taxes, the law is effected
on three stages:
• Stage one: 25% discount on the investors’ taxable revenue in case of payment before
the 31st of march 2012.
• Stage two: 15% discount on the investors’ taxable revenue in case of payment before
the 30th of June 2012.
• Stage three: 10% discount on the investors’ taxable revenue in case of payment before
the 31st of December 2012.
The new incentive scheme has actually resulted in an increase of 10% to the collected taxes
by applying only the first stage of the law.
Investor protection
There are five investor protection schemes which GAFI is currently endorsing:
1.
Investor Care Department: established within GAFI to support and guide investors
to resolve any conflicts they might face with the different governmental authorities.
Prior
the 25th of
Jan.
Revolution
2.
Disputes Settlement Center: established in 2009 for the reconciliation and disputes
resolution between business partners.
3.
The Investment Disputes Resolutions Committee: which GAFI hosts its the
technical secretariat.
4.
Post
the 25th of
Jan.
Revolution
The “Contracts Committee” which GAFI is a member of, to resolve any conflict that
might arise between the investors and different governmental bodies over
previously signed business contracts.
5.
Modification of the Investment law No. (8) year 1997 to allow the reconciliation
between the investor and the government in the cases of proven fraud.
Investment Policy Framework
Category
Income Tax
Inland Investment
Export Duties
and Sales Tax
• 20% & 40.55% for oil and gas
companies
• 5% flat tax rate on personal
income tax
• 10 years Exemption for
Agriculture and animal production
activities.
• 10 years Exemption for
Agriculture and animal production
activities.
• 10% tax on all activities within the
zone
• Custom procedures for
production input will be
administered in the zone
• Equipment customs are paid in 510 years installments
None
• Flat rate of 5% of the value of
imported machinery and
equipments
• 5-25% of value of all sale
transactions
• Sales taxes are paid in 5-10
years installments
• Exported good are tax exempted
Payroll Tax
Export
Minimum
Other
Incentives
Special Economic Zones
• 20% & 40.55% for oil and gas
companies
• 2-32% depending on the product
Import Duties
Investment Zones
• 10-20% depending on salary
level
None
• Protection against expropriation
and compulsory pricing
• Full right of profit and dividend
repatriation
• 10-20% depending on salary
level
None
• Companies established within the
investment zones are to enjoy
incentives given to both inland
and upper Egypt investment
regimes.
• No duties when exported out of
Egypt
• No duties on domestic
components when sold in Egypt
• 10% of value of non domestic
components when sold in Egypt
• 5% for all salary levels
•Depending on zone board’s
decision
• Egyptian certificate of origin for
SEZ based exporters
• Integrated custom and tax
administration, licensing, and
dispute settlement
FDI After the January Uprising
• 15743
new
companies/expansions
have
taken
place
over the period between January 2011 and Nov. 2012 with 14.0
a total capital of USD 16.7 billion, providing more than 12.0
356579 jobs.
• Egypt’s ongoing drive to promote investment combined with
greater transparency and a broader ownership of the
Number of Companies ('000)
10.0
8.0
6.0
4.0
2.0
0.0
national economic reform agenda will leverage Egypt’s
inherent strengths.
• BP is expected to invest USD 11 billion, GE to invest EUR303
million, Italy’s ENI to invest USD 18 billion, while Qatar is to
launch two mega-projects worth more than USD 9 billion of
investments and providing 1.2 million job opportunities.
Companies ('000)
FDI in Egypt Today
•
Pegas Nonwovens SA (PEGAS), a Czech maker of special textiles used in
hygiene products and health care
•
GlaxoSmithKline plc announced that it will invest US$ 84.7 million in Egypt’s
healthcare sector over five years to expand its product portfolio
•
Al-Futtaim Group will invest about US$ 300 million in 2012 to continue
construction of Cairo Festival City project.
•
In April 2011, the Kuwait Investment Authority (KIA), set up a company worth
$1 billion in capital to invest in Egypt's stock market
•
Electrolux, the Swedish appliance company, acquired a 52 percent stake in
Egypt’s Olympic Group at a cost of US$ 350 million.
•
The Turkish company KCG announcement to raise its investments in Egypt by
establishing 3 new projects valued at USD400 million in the textiles, electricity
generation, and mining in Sinai.
•
The Indonesian company “Multistrada” announced establishing a tire
factory in partnership with an Egyptian manufacturer, the project value is
USD320 million.
FDI in Egypt Today
•
In April, 2011, China Development Bank signed a memorandum of
understanding and cooperation with Commercial International Bank and
Commercial International Investment Company in Egypt to cooperate in
infrastructure and loans for SMEs
•
In July, 2011, the Egyptian Hydrocarbon Company (EHC) was established
with paid-up capital of USD150 million; the first private sector industrial
project to be implemented in Egypt at international prices with no subsidies.
Total investments of the project are USD454 million., And there are also
expectations for the company to further expansions in the coming years
•
In June 2011, Cisco announced it will invest USD10 million. The venture
capital investment will be targeted at high-potential small businesses that
provide innovative products and services.
•
The Turkish group “Limak”
to carry out enhancement capacity project
of Terminal 3 in Cairo International Airport with investments worth
USD387 million.
FDI in Egypt Today
•
•
•
•
•
•
•
The Indian company Dhunseri petrochemicals Ltd. established a 160 million
dollars company in Sharkyia governorate in the field of plastic production
providing 500 job opportunities
The Malaysian Islamic Finance company, AMANI , announced the
establishment of a USD 500M fund.
Coca-Cola , announced that will invest about one billion $ in the African
Markets including Egypt, over next years to expand their Investment
Jushi Group Chinese Co. will establish the largest Chinese project in
Egypt with investments of $ 300 million, operates in the field of Fiber Optics, a
manufacturer of electronic related industries, in other hand will
create 450 job opportunities
The Indian Company , Sinmar for Chemicals, announced that will invest about
$200 million in Port Said , which will produce PVC to meet the growing needs
of the Egyptian market .
Samsung company will establish an electric appliances project in Egypt with
total investment of $ 270 million, which suppose to create 1200 job
opportunities
LG Company announced that will invest about $ 265 million to establish
a home appliance complex , which will create 1000 job opportunities
Bedaya Center for Small and Medium
Investments (SMIs)
Establishment
Bedaya Center for Small and Medium Investments was established in January 2010 and
aims to implement GAFI’s strategy of developing small and medium investments.
Mission
To support the growth and development of the small and medium investments in Egypt; in
line with the national strategy towards create new sustainable jobs while raising economic
development indicators.
Bedaya Center for Small and Medium Investments (SMIs)
The Pillars of SMI Strategy
Facilitating SMEs access to finance:
Through establishing a EGP 1 billion private equity/venture capital fund while assisting and supporting
SMEs in accessing required credit guarantees to enhance their chances in accessing credit.
Providing business development services:
Non financial technical support that includes easing technology transfer, introducing investment
opportunities and providing technical training for entrepreneurs to acquire the necessary skills. Creating
clinics for fostering SME growth during the first five years of their lifetime.
Promoting entrepreneurship activities:
Through a process of selection of projects based on creativity, value added and initial viability and
providing the necessary support.
Integrating SMEs in the supply chain of large companies:
Enabling SMEs to play a more active role in the supply chains of big corporations and gaining access to
bigger, more sustainable markets and hence changing the Corporate-SME relationship to a win-win
relationship.
Priority Sectors and Clusters
• The energy sector is enormous, the government
sector is encouraging foreign investment in the
sector
where
natural
gas
is
the
evermore
important revenue generator.
• 63 new explorations were made in the FY 2009/10
while
11
new
ones
were
made
in
Q1 2010/11.
• Natural gas production recorded a decrease of
3.4% in Q1 2010/11 while that of crude oil
recorded a an increase of 2.3% during the same
quarter compared to Q1 of 2009/10.
• Domestic consumption of petroleum products
increased by 7% during Q1 2010/11 compared to
the same period of the previous year.
Source: ECHEM
Priority Sectors and Clusters
• One of the most vibrant sectors in Egypt.
• Egypt is home to many regional offices of
large multinational companies such as
Microsoft, Oracle, France telecom and
Intel.
• The total number of direct employees in
the CIT sector reached 214.65 thousand
employees
in April 2012, this figure
includes IT, Telecom, Post and Smart
village employees
• Total investments in ICT amounted to
1.8% and 1.0% of total implemented
investments in FY 2010/2011 and FY
2011/2012 respectively.
Source: ITIDA; BMI; MCIT
Indicators for the ICT Sector – April 2012
Ministry of CIT
Number of subscribers to fixed lines (mn)
8.57
Total capacity of telephone exchanges
(mn line)
14.62
Number of subscribers to cellular phones
(mn)
91.92
International Internet bandwidth (Gbps)
183.2
Internet Users (mn)
30.9
Number of subscribers has ADSL line (mn)
1.92
Priority Sectors and Clusters
• There was a 14.85% increase in the number of
companies operating in the CIT sector in Egypt between
April 2011 and April 2012, recording 4655 company.
• Egypt has three advanced mobile phone networks. All
three
either
have,
or
soon
will
have
3.75
G
infrastructure, they serve over 91 million subscribers as
In April 2012. growing by 23.41% since April 2011 –
and hitting a penetration rate of 112.64%
• In 2010/2011, the CIT sector has sustained an annual growth rate of 11.53%, and
received about EGP 45.35 billion in 2011, Annual growth rate of this issued capital (20102011) has recorded 1.21%. Moreover, the sector generates revenues of EGP 47.12 billion
and CIT sector contributes 4.28% to real GDP.
Source: ITIDA; BMI; MCIT
Priority Sectors and Clusters
• The healthcare sector is an important growth sector, the core areas of
investment include private hospitals, health tourism, pharmaceuticals, rural
healthcare and continuing education programs.
• Egypt is home to the largest trained workforce in the region such that
10,000 medical school graduates graduate annually, more doctors and
pharmacists than any other country in the Middle East.
• High doctor to patient ratio such that in 2010, Egypt recorded 7058
physicians, 13.95 nursing staff ,in addition to 1.32 dentists and
1.96pharmacists per 10 thousand citizen
•
Increase in Investment Appeal. Private investments in health care
amounted of EGP 2.35 Billion in 2010/2011.
•
Upgrade of the National Healthcare System. The government’s plan to overhaul the national
universal healthcare system will drive new traffic to more than 1607 hospitals and will create
additional opportunities for investment, particularly through the PPP program
•
In April 2012, the country’s first PPP project was announced for a healthcare project in
Alexandria. It’s an integrated medical city established over an area of 200 Feddan in Western
Alexandria, containing hospitals and clinics, recovery centers, five star hotels, R&D centers and
laboratories, and a center for medical education
Source: Ministry of Economic Development, CAPMAS
Priority Sectors and Clusters
• With the expected depletion of natural gas reserves within the next 57
years, Egypt is an investor’s dream when it comes to sustainable energy
resources. Egypt possesses an abundance of land, sunny weather and
high wind speeds, making it a prime resource for three renewable
energy sources: wind, solar and biomass
• Recent political changes have not affected Egypt’s long term
commitment to renewable energies. The promotion of renewable
energies became a political aim that is shared across the political
spectrum. Although renewable energy is relatively a new market in
Egypt, the country’s strategic location and the government’s commitment
to increasing its renewable energy output make it an attractive
investment opportunity. A new policy framework had been approved in
February 2008 that fosters an investor friendly system and encourages
foreign as well as private sector involvement.
• The government expects the renewable energy sector to produce 20%
of total power generation by 2020, 12% of which will be generated by
wind energy. Priority sectors are wind farms (the most cost-effective
renewable energy source), followed by biodiesel production, both of
which are supported by the country’s abundance of land, stable climate
conditions and competitive labor force
• With solar energy costs expected to decline sharply over the next 5 to 7
years, Egypt aims to develop a competitive market in solar energy, but
sees more immediate opportunities in wind and biomass.
Source: GAFI
Priority Sectors and Clusters
• Egypt is open to foreign participation in higher education
and training in order to meet the demands of the global market
place.
• There are currently 2.5 million university students . Served
by 39 universities (20 public and 19 private).
• As per the government investment for university and higher
education estimates about EGP 4.1 billion in 2012/2013.
• As per the total number of students enrolled in private institutes
313931 till June 2012.
• The
number
of
public
schools
increased
from
about 36 thousand schools in the year 2006/2007 to more than
40 thousand schools in the year 2010/2011.
• As per the number of private schools is 5662 school year
2010/2011.
• Total government investment for pre-university education plan
in 2012/2013, about EGP 4.5 billion,
• Of the multilingual workforce of more than 332,000 university
graduates in 2009/10 41,000 were specialized in education.
Priority Sectors and Clusters
The Industrial Sector
•
The sector represents an important and advanced rank in the national economy
and is strongly interrelated with several production and service sectors along
with boosting foreign trade and improving the balance of payments.
•
The sector amounts to 6.3% of growth rates during Q1 of FY 2010/11 compared
to 4.9% during the same period of the previous year.
•
Total investments are worth EGP 25.5 billion and EGP 8.8 billion were poured
into the industrial sector during FY 2009/10 and Q1 of FY 2010/11 respectively.
Investment opportunities
Mega Projects
1. East Port Said
• GAFI is adopting this project through the Mega Projects Unit in order to
achieve the vision to support investment projects in various fields.
• The integrated development of East Port Said opens prospects for new
development outside the Nile Valley and Delta, and contributes to the redistribution of Egypt's population over the next 30 years.
• The development is in alignment with the implementation of the Sinai
strategy.
• East Port Said Port - one of the most important ports to the major
hub in the Mediterranean region is expected to be largest during the
years.
• New urban city (millions) in Port Said - The total area has about 36
thousand acres.
• The industrial area east of Port Said - largest industrial area in Egypt
87 km 2 (20,700 acres).
• Agriculture area- reclamation of 60 acres in sahl El-tena region.
• Other projects ( sues canal tunnel in port said - electric train
crossing the Suez Canal).
‫– الهيئة العامة لالستثمار‬PPP ‫وحدة المشروعات القومية ومشروعات الـ‬
Mega Projects
2. Upper Egypt- Red Sea Road (Sohag / Safaga)
• Upper Egypt-Red Sea Company was established in November
2008 under the law of the Investment Guarantees and
Incentives No. 8 for the year 1997. 200,000 acres of land were
allocated to the company, under the Decree No. 356 of 2008
• Key projects include an integrated residential city on an area
of ​4,300 acres to provide 24,000 housing units.
• Other projects include:
a) Three dry ports in the governorates Assiut, Sohag ,Red Sea
east ,Qana
b) A sea water desalination plant powered by solar or normal
power, and serves the coast line from a source of sea water
wells .
Urban
Communities
Mega Projects
3. Special Economic Zones North West Suez
Canal

Project Description:
Area of 16.4 Km2 North East Suez Canal – Special
Economic Zone (Sokhna). Attract the private sector to
develop the first phase of the project with an area of 6.8
Km2 to manage, operate and maintain the infrastructure
and utilities, and promote the Zone

Sponsor:
The General Authority for Investment

Investment Cost:
800 Million pounds

Status:
The Chinese Company “TIDA” has been contracted for
developing phase one of the project
PPP Projects
S
Sector / Projects
Project details
Status
Expected
Request for
Tendering
Expected
contract
signature
Utilities
1
Abu Rawash
Wastewater plant
Upgrading level of treatment from primary to secondary
treatment for the whole capacity of the existing wastewater
plant 1,200,000 m3/d
7 companies have
been qualified on
March 2010
Q4/2012
Q4/20131
Q4/2012
Q4/20131
Roads & Highways
2
Rod El Farag access
Construction, operation and maintenance of Rod el Farag
access. The project will connect the existing ring road
around Cairo with Cairo - Alexandria highway,
with total length of 34 km.
RFQ was issued on
April 2010
PPP Projects
Planned projects:
•
These projects are being studied at the PPP central unit and are expected to be tendered
within the first quarter of the FY 2012/2013:
Roads & Highways
1. Shobra-Banhaa highway
Expected Time to finalize pre-feasibility studies in February 2013
2. Ain Shams / 10th Of Ramadan Railways
Expected Time to finalize pre-feasibility studies in February 2013
CIT
1. Smart village in Maadi
Expected Time to finalize pre-feasibility studies in January 2013
Ports
1. Safaga Industrial port.
Expected Time to finalize pre-feasibility studies in February 2013
Waste management
1. Recycling Soild Was
Expected Time to finalize pre-feasibility studies in October 2012
Hospital & Schools
1.Suez Canal Specialized University Hospital
Expected Time to finalize pre-feasibility studies in March 2013
2.Nile Schools
Expected Time to finalize pre-feasibility studies in January 2013
The General Authority for Investment and Free Zones
Who We Are:
GAFI is the principal governmental authority concerned with regulating and facilitating investment and
stands ready to assist investors worldwide.
Vision:
Position Egypt as the location of choice for business and innovation
Mission:
Enabling and sustaining Egypt’s economic growth through investment promotion, facilitation, efficient
business services and advocacy of investor friendly policies.
Mandates:
Promoting Egypt’s potential sectors while attracting new investments and promoting reinvestments and
expansions. Facilitating and providing services to investors through the “One Stop Shop” in addition to
supporting and accelerating the development of competitive and strategic clusters.
Contact GAFI:
www.gafinet.org
Thank you