Egypt aims to attract increased French investments: prime minister

Daily News Egypt
2 Min Read
In light of French president François Hollande’s visit to Egypt, some French companies operating in the Egyptian market and outside of it declared their hopes for expansion and boosting investment in the market.

The Egyptian government intends to increase French investments and will provide investors with all facilities currently involved in Egyptian projects, Prime Minister Sherif Ismail said.

Egypt will build on the outcome of French president François Hollande’s recent visit and will enforce all the signed agreements, Ismail said during his meeting with the French minister of state for relations with parliament, Jean-Marie Le Guen.

Ismail put an emphasis on cooperation in the tourism industry. He urged the French side to encourage more tourists to visit the country after all measures to ensure the safety of Egyptian airports.

The French minister said that he is looking forward to cooperation between the two parliaments by arranging visits of French members of parliament to Egypt.

France is reviewing its measures and instructions to French tourists. Le Guen praise Egypt’s efforts to secure airports.

Le Guen also held a meeting with the Minister of Foreign Affairs Sameh Shoukry to discuss bilateral relations, including regional issues.

Egypt and France signed 18 agreements and memoranda of understanding (MoU) during the French president’s visit last month.

The relations between the two countries saw strong improvement since the election of Egyptian President Abdel Fattah Al-Sisi, as a number of significant arms deals were sealed in the past months.

In July, Egypt received three high-tech French Rafale fighter jets, the first batch of 24 jets financed by a French government loan.

The delivery of the jets comes as a part of a military agreement between Egypt and France which includes, alongside the jets, a FREMM frigate. The whole deal is worth of a total of €5.2bn and it is the second large arms deal in a relatively short time, after France sold four Gowind corvettes to Egypt in 2014, rumoured to be worth around €1bn.

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