GAFI To Boost Investment With AI-Driven Upgrades
Egypt’s General Authority for Investment and Free Zones (GAFI) announced a partnership with the Ministry of Communications and Information Technology to upgrade GAFI’s platform using AI technology. This upgrade will allow GAFI to analyze data from the 400,000 economic entities it oversees, aiming to craft both short-term and long-term strategies to enhance Egypt’s investment climate.
At the “Invest in the Future of Egypt” conference, Hossam Heiba, CEO of GAFI, noted that while Egypt is a leader in attracting investment in Africa, it faces a dynamic challenge in keeping up with the evolving digital and IT sectors. He emphasized the need for new investment systems and legislation to match these changes.
GAFI’s initiatives include digitizing services, launching e-incorporation and streamlining processes for sole proprietorships and virtual companies. For the first time, service activities are also allowed in free zones to boost Egypt’s service exports.
Additionally, GAFI has introduced a permanent unit to support start-ups and entrepreneurship, coordinating efforts to provide essential services and benefits to new businesses.
The conference featured key figures such as Ahmed El-Zaher from ITIDA, Mohamed Azam of the Arab Council for Social Responsibility, Khalil Hassan Khalil from the Federation of Chambers of Commerce, Hossam Moawed of EITESAL NGO, and Ahmed El-Sebki from the Chamber of Industry for Information and Communication Technology.
