Egypt’s Public Enterprise Ministry, France discuss promotion of investments between both countries

Fatma Salah
2 Min Read

Minister of Public Enterprise Mahmoud Esmat discussed with France’s Ambassador in Cairo Marc Baréty cooperation between the two countries, especially within the scope of investment.

Esmat stressed on strengthening partnership with the private sector and attracting foreign investments in many industrial fields and economic activities in which subsidiaries operate, which represent promising opportunities.

The minister also referred to the investment decisions and incentives provided by the Egyptian state to industrial projects, noting that the government’s taking many steps and measures to support and create an attractive investment environment for various types of activities, in addition to Egypt’s distinguished geographical location and various trade agreements with many countries around the world.

Furthermore, he reviewed the many investment opportunities in the projects of affiliated companies, including the development of the aluminium complex in Nagaa Hammadi, the establishment of a new aluminium factory in the city of Safaga, and development projects in the fertilizer sector — especially in the field of green ammonia — as well as projects for electric vehicles in line with the global trend towards using clean energy and a project to produce car tires to meet the needs of the local market and export abroad.

For his part, Baréty congratulated Egypt on the outstanding and wonderful organisation of the recently concluded UN Conference of Parties on Climate Change (COP27) that was held in Sharm El-Sheikh in the presence of the most prominent world leaders, including French President Emmanuel Macron, referring to the talks he held with President Abdel Fattah Al-Sisi on the side-lines to enhance economic cooperation between the two countries.

He also affirmed the keenness of French companies to expand and increase the volume of their investments in Egypt and to enhance cooperation in many fields.

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