Mohamed El Gawsaky, CEO of the General Authority for Investment and Free Zones (GAFI), met with French Ambassador to Cairo Eric Chevallier to strengthen bilateral investment ties. El Gawsaky highlighted the depth of Egyptian-French relations, noting investments from around 200 French companies totaling about $8 billion. Chevallier praised Egypt's efforts to improve the business climate.
In a meeting in Cairo, Mohamed El Gawsaky, CEO of the General Authority for Investment and Free Zones (GAFI), discussed with French Ambassador to Cairo Eric Chevallier ways to bolster bilateral investment cooperation. El Gawsaky emphasized that economic ties form a cornerstone of Egyptian-French relations, strengthened by last year's landmark summit in Cairo between President Abdel Fattah Al-Sisi and his French counterpart Emmanuel Macron.
He noted the operation of about 200 French companies in Egypt, with total investments estimated at roughly $8 billion, highlighting France's key role in the Egyptian market. El Gawsaky reviewed recent legislative and regulatory reforms to improve the business environment, positioning Egypt as a regional hub for industry and logistics and a gateway to African and Middle Eastern markets.
He also highlighted the government's digital transformation drive, with electronic licensing platform services rising from 389 to 440. Efforts are underway to launch a comprehensive Economic Entities platform covering the full investor lifecycle—from setup to operations and exit—streamlining processes, cutting costs, and boosting efficiency for foreign investors, including French ones. Additionally, the state has committed to a stable, transparent regulatory framework while investing over $550 billion in infrastructure over the past decade to fuel economic growth and empower the private sector.
Chevallier stated that the talks reaffirmed the robust economic partnership between Egypt and France, where France leads as the top European investor in Egypt outside the energy sector. He commended the Egyptian government's initiatives to enhance the business climate, ease trade, advance digital services, and support operating companies, especially French firms. He stressed the need for ongoing collaboration between GAFI and Business France, the agency promoting French investments and exports.
The French Embassy invited GAFI to join the French Business Forum later this year in Paris and Lyon, expected to draw broad participation from government bodies and top French companies to showcase Egypt as an investment destination and draw new French capital.
