Cairo, Egypt – Algeria and Egypt convened the inaugural meeting of their Joint Technical Committee for Investment Cooperation on November 23rd and 24th in Cairo. The meeting took place on the sidelines of the Algerian-Egyptian Joint Higher Committee, signaling a strengthened commitment to bilateral economic collaboration.
The Egyptian delegation was led by Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), while Omar Rekkache, Director General of the Algerian Investment Promotion Agency (AAPI), headed the Algerian side. Senior officials from both countries participated in the two-day event.
The primary objective of the meeting was to enhance coordination and facilitate the exchange of expertise in investment promotion. Discussions centered on improving services for investors and refining support mechanisms in both Algeria and Egypt.
In his opening remarks, Mr. Rekkache lauded Egypt for hosting the session, emphasizing its significance as a catalyst for stronger economic ties. He highlighted the recent surge in Egyptian investments in Algeria, noting the registration of 21 new projects since 2023 and several requests for expansion. This, he stated, reflects the attractiveness of Algeria’s investment climate.
Mr. Rekkache also underscored the profound economic reforms Algeria has undertaken to build a diversified and resilient economy driven by productive investment. These reforms include enhancing institutional stability and prioritizing support for productive sectors. He affirmed that the new investment law plays a crucial role in providing investors with long-term clarity and stability.
During the meeting, the Algerian delegation emphasized the importance of fostering investment relationships through effective partnerships, leveraging the economic strengths, technical expertise, and promising opportunities in value-added sectors that both Algeria and Egypt possess. The Algerian delegation also presented AAPI’s experience in activating the single window for major projects, decentralized windows, and digital transformation through the investor platform.
Mr. Heiba affirmed that the meeting marks a significant step toward expanding economic relations. He outlined key reforms in Egypt’s investment climate, including legislative updates, infrastructure development, the State Ownership Policy document, streamlined procedures through investor service centers, incentives and exemptions, the establishment of a Golden License unit, and a guarantee system to boost investor confidence.
He concluded by stressing the importance of deepening cooperation through information exchange, promoting investment opportunities, and encouraging partnerships between the private sectors of Algeria and Egypt. Mr. Heiba reiterated GAFI’s commitment to providing all necessary facilities to investors.
