Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir emphasised that Egyptian-French relations are increased beyond political coordination to encompass broad co-operation in economic, investment, trade and cultural spheres.
Addressing a regional economic forum titled “from al Maghreb to the Levant via the Gulf”, held in Cairo under the patronage of President Abdel Fattah El Sisi and French President Emmanuel Macron, Wazir welcomed participants, affirming the forum is a key platform for dialogue between private sector stakeholders across Egypt, France, North Africa and the Middle East.
Wazir highlighted the recent high-level visit of Macron to Egypt, which culminated in upgrading the bilateral relationship to a strategic partnership, marking a significant milestone toward expanding cooperation and achieving mutual benefits.
He stressed Egypt’s commitment to attracting more French investments through incentivizing policies and by leveraging the country’s advanced infrastructure and strategic geographic location to position itself as a regional hub for transportation and logistics.
The government is focusing on sustainability and energy efficiency to drive development, he added.
Wazir invited greater French private sector involvement in Egypt’s development strategy, particularly in sectors of energy, green transition, infrastructure, health and logistics.
He also outlined investment opportunities in renewable energy, transport, textiles, IT, automotive, pharmaceuticals and food industries, backed by structural reforms and attractive incentives.
The minister noted that Egypt enjoys strategic partnerships with French companies across sectors, especially transport, with France being Egypt’s foremost partner in metro infrastructure development.
For his part, Finance Minister Ahmed Kouchouk highlighted the strong performance of Egypt’s private sector, contributing approximately 60% of total investments.
He pointed to notable growth in the energy sector, declining inflation from 37% to 24%, and ongoing reforms in taxation and economic resilience amid global challenges, including those impacting Suez Canal revenues.
Meanwhile, French Ambassador to Egypt Éric Chevallier underlined the forum’s significance following President Macron’s historic visit, which included a delegation of seven ministers.
