Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, has commended the efforts made by the General Authority for Investment and Free Zones (GAFI) in improving the investment climate in Egypt.

GAFI has worked on removing obstacles facing investors and promoting the projects and investment opportunities offered by the government, the authority’s Executive Director, Mohamed Abdel Wahab, said in a statement on Sunday.
 

Many companies have injected new investments in the Egyptian market, such as Samsung with $84 million in new investments over five years, Pfizer with $70 million in fiscal year 2020/2021, and PepsiCo with $100 million FY20/21, Abdel Wahab revealed.

Moreover, Coca-Cola has increased investments by EGP 1 billion, Procter & Gamble Company (P&G) by $50 million, and Etisalat by EGP 4 billion in the current fiscal year.

LG Electronics has also raised its investments by $40 million over three years, Emaar by EGP 40 billion, and Kharafi National by EGP 500 million.