French investments reach 4 billion euros in Egypt: PM Madbouly – Economy – Economy

The Egyptian-French Business Forum in Cairo on Monday (Photo: Egyptian Cabinet)

Such ventures benefit both friendly countries, spur genuine economic growth and provide employment opportunities for future generations, Madbouly added in his address to the Egyptian-French Business Forum, held in Cairo on Monday.

Many ministers and senior officials were present at this event, which was attended by nearly 50 Egyptian and French companies.

The Prime Minister said that French investments have reached four billion euros in Egypt.

The forum is an important gathering as it contributes to the country’s efforts to strengthen and develop its partnership with France and deepen bilateral relations in different fields, Madbouly added.

He said today’s meeting is an important opportunity to review and track steps and views to develop business relations.

Madbouly praised French efforts to strengthen development cooperation with Egypt by participating in the financing of several projects in accordance with Egyptian economic reform plans.

He went on to note that the Egyptian government is sparing no effort to prepare the ground for attracting more investment to Egypt, as the private sector plays a pivotal role in achieving sustainable development and creating more jobs. .

He said Egypt was seeking to attract more direct French investment in priority sectors and to encourage French companies to participate in future projects.

The Prime Minister said the development work underway in Egypt is unprecedented, urging French partners to contribute more and leverage the quantum economic leap that will be achieved by the country in the coming years through giant national projects .

Madbouly referred to ongoing projects in the Suez Canal Economic Zone (SCZone) and the New Administrative Capital (NAC) and other fourth-generation cities, which have advanced infrastructure and great potential for housing, services and industry.

He, meanwhile, commended the cooperation with the French Development Agency (AFD) in achieving socio-economic development in Egypt and the fact that Egypt benefits from the French experience in projects in various sectors, including water, drainage, transport, electricity, supply, urban development and information technology.

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