Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, held an extensive meeting with a French diplomatic delegation that included Éric Chevallier, the French Ambassador to Cairo; Pascal Furth, Economic Counsellor and Head of the Economic Department at the French Embassy in Cairo; and Antoine Wellenbohrer, Head of Infrastructure, Environment and Health at the embassy.
The meeting was part of the Ministry of Investment and Foreign Trade’s strategy to strengthen cooperation with international partners, expand economic and investment partnerships, and attract foreign direct investment.
During the meeting, the Minister affirmed Egypt’s commitment to continuing the development of the investment environment and improving the accuracy of foreign direct investment data, in a way that enhances economic decision-making and strengthens investment promotion efforts.
He highlighted the importance of adopting a proactive approach to attracting investment, based on directly targeting international investors and companies in line with Egypt’s economic needs, competitive advantages, and priority sectors.
Farid also stressed the need to deepen partnerships with the international business community and expand investment in productive and service sectors with high added value, while supporting the growth of existing companies operating in Egypt—describing them as one of the most important drivers of new investment inflows. He added that efforts are focused on strengthening a competitive investment environment and ensuring institutional coordination to guarantee the swift and efficient implementation of investment projects.
For his part, the French Ambassador emphasised the depth of economic relations between Egypt and France, noting that the French business community is showing increasing interest in Egypt as one of the region’s most important investment destinations. He underlined France’s commitment to supporting the expansion of existing French companies and ensuring their continued growth in the local market, while also attracting additional investment in priority sectors, particularly industry, energy, and advanced services.
The meeting addressed several priority issues, including the development of Egypt’s foreign direct investment data system and mechanisms to improve monitoring and tracking efficiency to ensure accuracy. Discussions also highlighted the importance of moving from traditional investment attraction models towards a more effective approach based on directly targeting global investors and companies according to available opportunities and priority sectors.
The two sides discussed preparing lists of targeted French investors and companies, studying the sectors in which they operate and their investment needs, with the aim of developing more precise and effective investment propositions. This would involve leveraging Egypt’s commercial representation offices abroad to communicate with targeted investors and prepare sector-specific investment profiles tailored to individual companies.
Both sides stressed the importance of supporting the expansion of French companies already operating in Egypt, considering this one of the most significant factors in attracting new investment and strengthening international business confidence. They noted that successful existing investments and expansion projects send a positive message to potential investors considering entry into the Egyptian market.
The meeting also reviewed issues related to French companies operating in Egypt and explored ways to support their expansion plans and ensure operational stability, thereby encouraging additional French investment and maximising the benefits of existing projects.
Discussions covered opportunities for cooperation in strategic sectors, including automotive and feeder industries, aviation, pharmaceuticals, and advanced technology, in support of Egypt’s efforts to localise industries, increase added value, and expand the use of modern technologies. The two sides further reviewed cooperation opportunities in aviation, including manufacturing, maintenance, and training, while benefiting from the expertise of leading French companies. They also discussed strengthening cooperation in the automotive sector through deeper localisation of manufacturing and increasing the contribution of feeder industries within value chains.
The meeting additionally addressed preparations for the French Business Forum scheduled to take place in Paris and Lyon next September, which aims to strengthen ties between the French business community and Egyptian institutions and showcase investment opportunities in Egypt, thereby helping to attract new investments and enhance economic cooperation between the two countries.
The two sides agreed to maintain technical and institutional coordination between the relevant authorities in both countries and to document all understandings through official channels, while establishing regular follow-up mechanisms to ensure swift implementation and tangible results.
The Minister of Investment concluded by reaffirming Egypt’s commitment to improving the investment environment and strengthening partnerships with the international business community, in a way that increases foreign direct investment inflows, supports sustainable economic growth, and attracts new investments capable of driving production, exports, job creation, and competitiveness.
