CAIRO: Hugues de Roquette-Buisson, general manager for the Middle East, of AGF-Allianz Group, visited Egypt last week to discuss investment opportunities in Egypt and the recent reforms undertaken by the Government to encourage development.
De Roquette-Buisson, as a member of the French Business Investors Association (Medef), met with Prime Minister Ahmed Nazif, ministers of finance, investment, and commerce, as well as members of the Egyptian Businessmen’s Association and the General Authority for Investment and Free Zones to discuss ways to boost French investment in Egypt. Medef arranged bilateral meetings as part of the Egyptian-French presidential business council established by President Hosni Mubarak and France s President Jacque Chirac.
As a member of the council, de Roquette-Buisson’s mission was to advice on ways of boosting economic cooperation between both countries.
“Aggressive economic reform has bolstered the Egyptian economy, said de Roquette-Buisson, “positioning Egypt as an attractive destination for investment and a platform for further opportunities across the Middle East. In addition, he was impressed by the increase in the number of development projects taking place in Egypt and the willingness of the Egyptian government to enhance and modernize the financial sector.
During his visit, de Roquette-Buisson met with Allianz Egypt’s top and middle management. He announced that after offering the full range of Takaful products in Saudi Arabia, Allianz is in the process of opening its newest Takaful insurance company in the Gulf soon. He emphasized that Allianz is striving to secure a strong presence in this Area not only as an insurance provider but as a full-service provider including, asset management, reinsurance, banking and management of special risks.
“We’ve reached a level of visibility that Egypt is now a competitor in the Middle East insurance market, commented de Roquette-Buisson on Allianz Egypt, “a model that has proved its efficiency, with a team that has proved their capability.
Furthermore, de Roquette-Buisson emphasized the great potential of the Egyptian insurance market provided that a conscious effort is made to invest in products, customer satisfaction and employee development along with technical development.