HKSAR, Egypt sign MoU on investment promotion ties

Jimmy Chiang (right), the acting director-general of Investment Promotion at Invest Hong Kong, and Hossam Heiba, the chief executive director of the General Authority for Investment and Free Zones of Egypt, pose for a photo after signing a memorandum of understanding in Hong Kong on Sept 14, 2023. (PHOTO / HKSAR GOVERNMENT)

HONG KONG - Invest Hong Kong (InvestHK) of the Hong Kong Special Administrative Region government and the General Authority for Investment and Free Zones (GAFI) of Egypt signed a memorandum of understanding here Thursday, pledging cooperation on investment promotion exchanges and support.

The MoU aims to enhance the close relationship for the mutual benefit of the HKSAR and Egypt, and their cooperation with each other in promoting both inward and outward investments.

The MoU focuses on sharing information on the business environment, investment opportunities and technical experiences in the field of attracting foreign investments as well as encouraging interested local companies in setting up or expanding their businesses within the area of the other jurisdiction.

As an important hub of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative, the SAR offers an efficient, reliable business platform bringing the mainland and the rest of the world together, said Jimmy Chiang, acting director-general of Investment Promotion at InvestHK.

Hossam Heiba, chief executive officer of GAFI, said the MoU encourages economic cooperation between Egypt and the SAR, encourages bilateral investments from both sides, and work on enhancing mutual visits for business delegations to explore investment opportunities together.


Source: China Daily [2023-09-15]