Egyptian and Omani officials have discussed ways to boost institutional cooperation and exchange expertise in managing free zones on the sidelines of the World Investment Conference in Geneva. Dr. Mohamed Awad, CEO of the Egyptian General Authority for Investment and Free Zones, met with Ahmed bin Hassan Al Dheeb, Deputy Chairman of Oman's Special Economic Zones Authority. They agreed to sign a cooperation protocol and organize a visit for an Omani delegation to Cairo.
During the meeting, Dr. Awad showcased Egypt's experience in improving the investment climate, highlighting key reforms and practices adopted by the authority to enhance management efficiency and simplify procedures for investors. This has positively impacted the investment environment and increased Egypt's competitiveness in attracting foreign capital. The two sides explored ways to promote integration and exchange technical and administrative expertise in establishing and developing free zones and investment areas.
The talks resulted in an agreement to conclude a joint cooperation protocol aimed at exchanging expertise and benefiting from successful experiences in both countries. The agreement includes arranging a high-level Omani delegation visit to Egypt to learn about the working mechanisms and visit several free zones and investment areas. This will help them understand the modern management system in place.
The move is part of Egypt and Oman’s efforts to consolidate institutional cooperation frameworks and apply best international practices in managing economic zones. This aims to open new avenues for encouraging bilateral investments and providing a business-friendly environment that supports sustainable economic development plans in both countries.
The cooperation protocol will facilitate the exchange of knowledge and expertise between the two countries, enabling them to improve their investment climates and enhance their competitiveness. Egypt and Oman are keen on strengthening their bilateral relations and promoting economic cooperation to achieve their development goals.
The visit by the Omani delegation to Cairo is expected to further solidify the cooperation between the two countries and provide opportunities for investors to explore new business opportunities. The Egyptian and Omani authorities are committed to fostering a favorable business environment that attracts investments and supports economic growth.
Key aspects of the cooperation include exchanging expertise in managing free zones, promoting investment opportunities, and enhancing the business environment. The agreement is expected to have a positive impact on bilateral trade and investment between Egypt and Oman, contributing to the growth of their economies.
Key points
- Egypt and Oman have agreed to sign a cooperation protocol to exchange expertise in managing free zones and promote investment cooperation.
