GAFI hosts Egyptian-Algerian Technical Committee for Investment Cooperation
Updated 11/25/2025 11:11:00 AM
Arab Finance: The General Authority for Investment and Free Zones (GAFI) hosted the first meeting of the Egyptian-Algerian Technical Committee for Investment Cooperation, according to a statement.
The meeting was chaired by the CEO of the GAFI Hossam Heiba, on behalf of the Egyptian side, and the Director General of the Algerian Investment Promotion Agency (AAPI) Omar Rekkache, on behalf of the Algerian side. It was attended by the Vice Chairman of GAFI Yasser Abbas and the Vice President of GAFI Dalia El-Hawary.
Heiba stated that Egypt is implementing an economic approach focused on empowering the private sector, while deploying a package of reforms centered on transparency, governance, and the rule of law.
In order to improve the business environment, the state updated economic legislation, developed infrastructure, and executed the State Property Policy document.
Moreover, the GAFI exerted efforts to streamline procedures via investor service centers, provide diverse investment incentives and customs exemptions, establish the Golden License unit, and secure an investor guarantee system that boosts confidence and stability.
During the meeting, Heiba emphasized the importance of deepening investment cooperation between Egypt and Algeria through information exchange, promoting available opportunities, and encouraging partnerships between the private sectors.
He also asserted the need to leverage Algerian expertise in manufacturing, renewable energy, agriculture, and artificial intelligence.
The CEO invited Algerian business leaders to expand their presence in Egypt and explore major opportunities, affirming the authority's readiness to provide all necessary support, particularly in light of the expansion of digital transformation services.
For his part, Rekkache pointed out that the meeting represents a key step towards strengthening bilateral relations between Egypt and Algeria, adding that they are undergoing comprehensive economic reforms aimed at building a resilient economy capable of driving growth.
Algeria has recently focused on supporting productive sectors and lifting restrictions that previously limited foreign direct investment (FDI) inflows, Rekkache indicated.
The Egyptian investments in the Algerian market are witnessing remarkable growth, with 21 registered projects, in addition to several expansion plans.
Meanwhile, Abbas made a presentation on the authority's efforts in promoting and attracting FDI.
He pointed out that net inflows reached $46.1 billion during fiscal year (FY) 2023/2024, adding that Egypt ranked ninth globally in FDI attraction.
The presentation also touched upon competitive advantages, financial reforms, targeted sectors, investment incentives, and the new export subsidy program.
Likewise, the Algerian side presented a detailed overview of the AAPI and its single window system for major projects, foreign investments, and the digital transformation.
Finally, the two countries signed an agreement to organize the second meeting of the technical committee for investment cooperation in 2026 in Algeria.
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