Egypt, France Mull Boosting Investments, Exports

Egypt is actively pursuing legislative, procedural, and digital reforms to enhance its business environment and streamline company establishment and expansion. Investment and Foreign Trade Minister Mohamed Farid emphasized that continuous dialogue with the business community is crucial for developing the investment climate and boosting investor confidence.

During a meeting with French Ambassador Eric Chevallier and representatives from 22 French companies operating in Egypt, discussions focused on expansion plans, addressing challenges, and exploring ways to support French investments. The Egyptian ministry aims to increase local content, connect Egyptian suppliers with global supply chains, and facilitate licensing and approval procedures through electronic connectivity among government entities.

Farid highlighted efforts to develop the Export Development Fund system and create a database of local suppliers to support feeder industries, enhance production capacity, and boost exports. He noted that existing French companies are key ambassadors for attracting new investments, and their proposals would be translated into practical measures.

The French ambassador affirmed that French companies view Egypt as a strategic regional hub for production and exports. Companies like Orange Egypt, Saint-Gobain, Alstom, RATP Dev, EDF, Total Energies, and CMA CGM shared their expansion plans, emphasizing their commitment to supporting local manufacturing and increasing exports.

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French companies view Egypt as a regional hub for production and exports, expressing their aspiration to expand investments and strengthen cooperation with the Egyptian government in the coming period.