PM praises Egypt-France strategic ties

Prime Minister Mostafa Madbouly highlighted the strong ties between Egypt and France during a meeting with the French Chamber of Commerce and Industry in Egypt (CCIFE) and a delegation of French CEOs and officials. They discussed current projects and future investments in Egypt, with Trade and Industry Minister Ahmed Samir in attendance.

Madbouly praised the current trade relations and encouraged increasing trade exchanges between the two countries. He noted that 940 French companies have investments totaling USD 7.2 billion in various sectors in Egypt. The government has taken steps to improve the investment climate, offering incentives to foreign companies under the investment law.

The prime minister urged French companies to invest more in promising sectors like transport, especially as Egypt aims to localize manufacturing in partnership with global companies. He also invited them to the upcoming Egypt-EU investment conference.

CCIFE members congratulated Madbouly on his reappointment and expressed their commitment to enhancing trade and investment cooperation between the two countries. French companies are eager to invest in oil, gas, green hydrogen, pharmaceuticals, and vaccines in Egypt, while French banks are ready to provide funding for energy transition and electric vehicle projects.