French investments in Egypt have reached $7.2 billion through 940 companies, covering sectors such as infrastructure, banking, insurance, energy, transportation and communications, said Egypt’s Prime Minister Mostafa Madbouly during a meeting this week with leaders of the French Chamber of Commerce and Industry and representatives from prominent French companies operating in Egypt.
The meeting focused on ongoing and future projects, investment plans and proposals to expand French investments in Egypt. Madbouly also outlined recent legislative measures that the Egyptian government took to enhance the country’s investment landscape and create an attractive business environment, including incentives provided under the investment law.
Prime Minister Madbouly encouraged further investment in promising sectors such as transportation and railway car manufacturing. Moreover, he highlighted the opportunities Egypt offers in the electric car industry and noted ongoing negotiations with international companies to localize the country’s railway-related industries.
In addition, French companies expressed their hopes to invest in Egypt’s oil and gas sectors, green hydrogen, and the localization of pharmaceutical industries and vaccines.
During the meeting, officials from the French Chamber announced that France will host an Egyptian-French Business Forum in the coming months to support and enhance Egyptian exports to France.
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Saint-Gobain Glass Egypt announced plans to invest $322.02 million in Egypt over the next three years, with $214.68 million already approved. This investment also includes a proposal to establish a factory in Sadat City.
During the meeting, several companies also expressed intent to participate in the upcoming joint Egyptian-European investment conference, scheduled for June 29-30 in Cairo.
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