Ibrahim Mahlab, the president’s assistant for national projects and former acting prime minister, called on French investors to invest in Egypt on Monday.
Mahlab held a speech during a conference organised by the French-language newspaper Al-Ahram Hebdo, in which he said the government has taken a number of steps aimed at reforming Egypt’s business environment.
He added that Egypt is moving towards progress, having made difficult decisions that will significantly affect investment opportunities and attract foreign companies, as well as motivate existing companies to increase their investments in the coming period.
Mahlab mentioned that the government has an ambitious strategy for 2030 and is aware of the confidence of foreign investors in the Egyptian market. He added that Egypt has the capability to be among the most attractive investment markets in terms of manpower, strategic location, projects, and investment opportunities.
While Egypt has roughly 17 different fields open to investment, Mahlab said it is hampered by its bureaucracy. The government, he added, is working on solving the current crisis and overcoming obstacles to investment.
Mahlab added that French companies face no difficulties working in Egypt in light of government reforms, and called on French tourists to come to Egypt and take advantage of its competitive prices and good weather.