Sisi, Le Maire probe expanding French investments in Egypt

During the meeting, President Sisi expressed his appreciation for the efforts of the French Ministry of Economy and Finance to boost economic and trade relations between the two countries, Presidency Spokesman Ambassador Bassam Radi said.

The president reviewed the incentives and advantages of business climate in Egypt, as well as the huge investment opportunities available for the French investors in the Egyptian national projects being implemented across the country, especially in transport, energy, water and health.

President Sisi stressed the importance of the localisation of industry and transfer of technology in all joint projects with the French side, according to the presidency spokesman.

For his part, the French minister affirmed his country’s interest in strengthening joint co-operation between the two sides with the aim of providing advanced technology to Egypt in all fields.

Le Maire said that he would encourage French companies to work and invest in Egypt within the framework of contributing to advancing the comprehensive development process underway there, especially in the light of the positive economic measures Egypt has taken over the past period.

The measures, the French minister went on to say, included creating an attractive environment for foreign direct investment, taking serious steps forward to facilitate procedures and licencing related to investment as well as luring the private sector to participating in many investment projects.

The spokesman said that the meeting dealt with prospects for maximising French investments in Egypt, as well as efforts to expand the activities of some existing French investment companies.

In this regard, it was agreed to sustain work and coordination during the coming period between the French Ministry of Economy and Finance and the relevant government agencies in Egypt to enhance economic ties between the two friendly countries.