Egypt and Egypt hold the first meeting of the Technical Committee to promote integration

Manal al-Masri wrote:

Egypt and Algeria held the first meeting of the technical committee to promote cooperation and discuss opportunities for investment integration between the two countries, which lasted for two days in the presence of Hossam Hibah, the chief executive of the General Authority for Investment and Free Zones on the Egyptian side, and Omar Rakkash, the general manager of the Algerian Agency for Investment Promotion.

According to the statement of the organization today, Hossam Hibet, the executive president of the General Authority for Investment and Free Zones, confirmed that holding this meeting is an important step to strengthen economic relations between the two countries and promote investment cooperation.

He pointed out that Egypt is witnessing in the current stage comprehensive strategic changes in the investment climate, supported by an economic focus based on the empowerment of the private sector, with a package of reforms based on transparency, governance and the rule of law.

The CEO of the Authority emphasized the importance of deepening investment cooperation between Egypt and Algeria through the exchange of information and promotion of available opportunities, and encouraging partnerships between the private sector in the country, and benefiting from Algerian expertise in the fields of manufacturing, renewable energy, agriculture, and artificial intelligence.

He called on Algerian businessmen to strengthen their existence in Egypt and explore promising opportunities, confirming the organization’s readiness to provide all facilities, especially in the expansion of digital transformation services.

واقل عمر ركاش that Algeria is witnessing comprehensive economic reforms aimed at building a moderate economy and capable of driving growth, as part of achieving political and social stability.

He explained that Algeria focused during the last period on supporting the productive sectors and lifting the restrictions that limited foreign direct investment flows, thanks to the positive effect of the implementation of the new investment law, which provides a clear and long-term vision for investors.

He added that Egyptian investments in the Algerian market are witnessing significant growth, as 21 projects were registered for Egyptian investors, along with a number of expansion requests, which reflects the success of Algerian enterprises in providing support and protection for investors.