The General Authority for Investment and Free Zones (GAFI) and QNB Alahli have signed a memorandum of understanding (MoU) to strengthen their cooperation in the field of investment in Egypt. The MoU is part of the government's plan to leverage the local and foreign private sector to attract more investment. The MoU was signed by Hosam Heiba, the CEO of GAFI, and Mohamed Badir, the CEO of QNB Alahli – Egypt. According to the MoU, the bank will promote investment opportunities in Egypt through its domestic and international branches and will introduce its clients to the services and benefits offered by GAFI. The bank will also provide reliable information about the economic sectors that interest potential investors in Egypt. Moreover, the bank will participate in organizing bilateral and group meetings for its clients with GAFI's leadership during promotional tours inside and outside Egypt. GAFI will provide the bank with all the relevant information and legislation regarding the business environment, investment opportunities, and targeted sectors according to the state's plans. It will also offer distinguished services to the bank's clients who are interested in investing in Egypt. Hosam Heiba stated that GAFI is currently signing several MoUs with commercial banks, including QNB Alahli, to boost investment, taking advantage of the banks' extensive network inside and outside Egypt. GAFI will also inform investors about the financial incentives provided by these banks to achieve mutual benefits for both parties.
