Report highlights 2 Egyptian projects among major clean energy ventures in N.Africa
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Hawary: GAFI honors best investors in CSR annually, seeks attracting sustainable, green FDI
Dr. Dalia El Hawary, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), said GAFI offers an annual excellence award to the best 10 investors contributing to CSR.
She noted that article no 15 in the investment law is dedicated to supporting and encouraging investors to invest into CSR activities. The executive regulations have listed the different activities that an investor can contribute to CSR in it; one of them is funding training as well as research and development.
Hawary added that the main mission of GAFI’s strategy is attracting sustainable foreign direct investment (FDI); that is green, environment-friendly and socially responsible in addition to taking into account government considerations.
She made the remarks during the first session of the 3rd Egypt Business Solutions Summit, held under the auspices of Prime Minister Moustafa Madbouli. The event is held under the theme of “Creativity is the Key to Sustainability.”
She expounded that GAFI is the main national entity responsible in Egypt for regulating and promoting investment.
In mid 2023, GAFI started by launching GAFI strategy for investment and that was very well aligned with Egypt Vision 2030 that is mainly based on establishing knowledge-based economy in order to achieve high sustainable and more inclusive economic growth.
She added that GAFI’s strategy has five pillars and digital transformation is cutting across all the five pillars.
Digital transformation is a key enabler for the establishment of a knowledge-based economy, she said, expounding how the Ministry of Foreign Trade and Investment – to which GAFI is affiliated – is supporting knowledge-based economy.
She referred to launching Egypt investment map to promote FDI, expounding that it was developed under the latest technology; it is an interactive dynamic map where investors can access needed information.
There are about 1200 investment opportunities for both public and private sectors and the map is regularly updated, she noted.
GAFI strategy also seeks establishing a conducive business environment, she said, expounding needed procedures to get the Golden License which is meant mainly to transfer knowledge and know-how to Egypt in addition to fostering innovation and creativity in Egypt.
So far, 38 Golden Licenses have been granted in Egypt; four of them in green and sustainable, Hawary noted.
GAFI will soon launch a service for applying to the Golden License via the GAFI website, she added.
She highlighted that GAFI strategy also works on promoting entrepreneurship, noting that Egypt seeks to be a regional hub for entrepreneurship.
GAFI also works on offering a chance for data-based decisions by policymakers and investors, she added.
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