Several Danish companies operating in different investment sectors are studying the possibility of making new investments in the Egyptian market during the coming period, according to a press release to the General Authority for Investment and Free Zones (GAFI) on Wednesday.
Mohamed Khodeir, executive chairperson of GAFI, met with a delegation headed by the Danish ambassador to Cairo, Susan Shane, which included major Danish companies operating in Egypt in strategic sectors such as pharmaceuticals, food and agricultural industries, and information technology.
Shane emphasised the embassy’s commitment to encouraging Danish companies to invest in Egypt, especially as the Egyptian market is one of the largest and most promising markets in the Middle East and North Africa region.
Khodeir said the Ministry of Investment and GAFI are eager to meet with all investors and the business community on a regular basis to follow up on the status of these projects, as well as to provide support and assistance and solve any obstacles.
The chairperson presented the Supreme Council for Investment’s latest decisions to the Danish companies. These moves aim to accelerate the pace of economic activity and facilitate procedures for projects and licences in Egypt. This comes within the government’s efforts to create a healthy investment climate, and restore the local and international business community’s confidence in the market.
The Ministry of Investment is currently coordinating with representatives of various business organisations and governmental agencies to complete discussions on the new investment law so as to activate it as soon as possible.
The law includes a group of investment guarantees and incentives that take into account the right of the state and support the investor.
According to GAFI’s website, Denmark ranks 34th among countries investing in Egypt with 149 companies and a capital estimated at $169.3m.