200 French firms invest $8bn in Egypt: GAFI CEO

2026-03-03 - 17:34

Mohamed El Gawsaky, Chief Executive Officer of General Authority for Investment and Free Zones (GAFI), met with Eric Chevallier, Ambassador of France to Cairo, to explore avenues for strengthening bilateral investment cooperation. El Gawsaky highlighted the depth of Egyptian-French relations, noting that they were further reinforced by last year’s landmark meeting in Cairo between President Abdel Fattah Al-Sisi and his French counterpart, Emmanuel Macron. He stressed that economic cooperation has long been a cornerstone of ties between the two countries. He pointed to the presence of around 200 French companies operating in Egypt, with total investments estimated at approximately $8bn, underscoring France’s prominent role in the Egyptian market. The GAFI chief reviewed recent developments in Egypt’s investment climate, outlining legislative and regulatory reforms aimed at enhancing the business environment. He reaffirmed Egypt’s positioning as a regional hub for industry and logistics, as well as a gateway to African and Middle Eastern markets. El Gawsaky also underscored the government’s push towards digital transformation. He noted that the number of services available through the electronic licensing platform has increased from 389 to 440. In parallel, work is under way to launch a comprehensive Economic Entities platform designed to cover the entire investor lifecycle—from incorporation to operation and potential exit—streamlining procedures, reducing costs and improving efficiency, particularly for foreign investors, including French firms. He further emphasised the state’s commitment to empowering the private sector through a stable and transparent regulatory framework, alongside more than $550bn invested in infrastructure over the past decade to support economic expansion. For his part, Chevallier said his discussions with GAFI officials reaffirmed the strength of the economic partnership between Egypt and France. He noted that France ranks as the leading European investor in Egypt outside the energy sector. The ambassador commended the Egyptian government’s efforts to improve the business climate, facilitate trade, advance digital services and support companies operating in the market, particularly French firms. He also stressed the importance of continued cooperation between GAFI and Business France, the agency responsible for promoting French investment and exports. The French Embassy invited GAFI to participate in the French Business Forum, scheduled to take place this year in Paris and Lyon. The event is expected to attract wide participation from government entities and leading French companies, offering a significant platform to promote Egypt as an investment destination and attract new French capital.