Scotland Times

Thursday, Nov 21, 2024

Egypt, Switzerland boost investment opportunities

Egypt, Switzerland boost investment opportunities

Egypt's CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, met with Swiss State Secretary of Economic Affairs, Helene Budliger, to discuss boosting investment ties between their countries.

Heiba highlighted Egypt's investment opportunities and its role as a gateway to Africa. He also emphasized the significance of the African Continental Free Trade Area (AfCFTA), a vast market of 1.3 billion consumers with a $3.4 trillion combined market value.

The meeting occurred during the African Intra-African Trade Fair (IATF2023) in Cairo, aiming to attract investments in the African market, with $43 billion in trade and investment deals anticipated.

Switzerland currently ranks 15th among Egypt's top investors, with nearly $2.2 billion in investments across 433 projects. Trade between Egypt and Switzerland also increased by 7.8% in 2022, reaching $1.52 billion.

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