Prime Minister Mostafa Madbouly had the honor of meeting a delegation from the French Chamber of Commerce and Industry in Egypt (CCIFE), as well as a delegation composed of CEOs and senior officials of large French companies and banks operating in the Egyptian market. During this meeting, discussions focused on the current projects of French companies in Egypt and their future plans to expand their investments in the country. The Minister of Commerce and Industry, Ahmed Samir, was also present during the meeting.
The Prime Minister warmly praised the historic and strategic relations between Egypt and France in the political, economic and cultural fields. He highlighted the excellent trade relations between the two countries and called for greater efforts to strengthen the volume of trade to higher levels.
To date, Egypt is home to 940 French companies, representing investments worth $7.2 billion, spread across sectors such as infrastructure, banking, insurance, energy, transport and telecommunications, among others.
The Prime Minister presented to the French delegation the measures taken by the Egyptian government to improve the business climate and create an environment conducive to investment, highlighting the incentives offered to foreign companies under the Law on investment.
Furthermore, Mostafa Madbouly encouraged French companies to invest more in promising sectors, in particular transport, while the Egyptian state seeks to nationalize the manufacturing of metros, railways as well as cars, in cooperation with global companies.
The Prime Minister invited CEOs of French companies to participate in the Egypt-EU investment conference to be held in Cairo on June 29-30, under the co-chairmanship of President Abdel Fattah al-Sisi and the President of the European Commission , Ursula von der Leyen.
For their part, members of the CCIFE congratulated Mostafa Madbouly on his reappointment as head of government. They stressed the importance for the CCIFE to strengthen commercial cooperation and investments between France and Egypt, announcing an upcoming Franco-Egyptian economic forum, bringing together the private sectors of the two countries.
CEOs of major French companies have expressed their intention to invest more in the oil, gas, green hydrogen sectors, as well as the manufacturing of pharmaceuticals and vaccines in Egypt.
Finally, representatives of French banks reaffirmed their commitment to developing their financial and banking activities in Egypt, saying they were ready to provide more financing for projects linked to the energy transition and electric vehicles.