Egypt, Georgia ink agreement to promote investment cooperation

The General Authority for Investment and Free Zones’ (GAFI) CEO Hossam Haiba and CEO of Enterprise Georgia Mikheil Khidureli have signed a memorandum of understanding (MoU) to enhance investment cooperation between the two countries, the Egyptian side said in a statement on Monday.
Enterprise Georgia is the corporate body responsible for promoting Georgian investment and exports.
The MoU was signed during the Egyptian Georgian Business Forum hosted by GAFI. The trade and investment agreements that tie the Egyptian economy to more than 1.3 billion consumers and the Georgian economy to more than 2.3 billion consumers ensure the boom in production of the investment partnership between the two countries, he pointed out.
Haiba briefed the attendees on the tax incentives offered by the Egyptian government and investment opportunities in the sectors of industry, logistics, and the green economy.
Georgian Minister of Economy and Sustainable Development Levan Davitashvili said that the MoU will push the political rapprochement between the two countries into strong economic relations, especially after the pandemic and the Russian-Ukrainian war created the need for other tracks of economic cooperation.
Davitashvili noted that the Georgian government sees Egypt as its gateway to the African economy in trade and investment.