Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, held an expanded meeting with investors in Luxor, attended by Governor Abdel Mottaleb Amara, as part of his ongoing tour of Luxor and Qena governorates. The minister highlighted the state's vision to boost investments in these areas to drive local growth and create jobs. He stressed the value of direct communication to hear investors' perspectives and address their challenges.
Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, convened an expanded meeting with investors in Luxor, joined by Governor Abdel Mottaleb Amara during his tour of Luxor and Qena governorates. The session also included Mohamed El-Goski, CEO of the General Authority for Investment and Free Zones (GAFI), and senior ministry officials. El-Khatib emphasized that sustained on-the-ground interaction with investors forms a key element of the ministry's strategy.
Governor Amara noted that Luxor is advancing several major investment initiatives, led by tourism, where multiple hotel and tourism projects are under construction. He pointed out promising prospects in agriculture and agro-processing, especially in the desert hinterlands, alongside other sectors.
The discussion covered available investment opportunities, spotlighting key areas like tourism, agriculture, and education. An investment guide for Luxor has been developed, identifying unused lands and state assets, including 25 underutilized properties to be offered to investors.
A total of 47 opportunities were outlined across the governorate: six already awarded, 16 slated for offering this month, 12 to be allocated under the governor's authority, and 13 under review in coordination with relevant bodies.
El-Khatib heard from local investors detailing their operations in tourism, education, and agriculture, along with the obstacles they encounter. He responded by underscoring that the current Investment Law offers a broad set of incentives to spur investments, with Upper Egypt's governorates classified under "Zone A" for the most disadvantaged areas.
These Zone A benefits permit deducting up to 50% of investment costs from taxable profits, capped at 80% of paid-up capital, for qualifying projects. The minister added that tourism ranks among priority sectors backed strongly by the state, with plans for a comprehensive investment map that includes pre-approvals from all authorities to streamline project execution.