French companies to increase investments in Egypt

June 19, 2015 11:20 am

The visit made by the Mouvement des Entreprises de France (the “Movement of the Enterprises of France”, also known by it’s acronym, MEDEF) to Egypt reflects French businessmen’s interest in seizing new investment opportunities in the Egyptian market, reports a senior official.

Mounir Fakhry Abdel Nour, Minister of Industry and Foreign Trade, noted in a press conference held last Monday by the Egyptian-French Business Council, that a delegation of French companies’ heads will visit the Suez Canal project to identify investment projects there, especially related to developing the Suez Canal Axis, reports Egypt-based Youm7.

On his side, France’s Ambassador to Egypt, André Parant, expressed his happiness at the arrival of the French delegation, which includes presidents of giant French companies. The visit had been postponed more than once due to circumstances beyond the control of the Egyptian and French governments.

Parant says that the Sharm Al Sheikh Economic Conference proved that the Egyptian economy is recovering dramatically and has become a magnet for foreign investments. This makes it especially important for French companies to participate in the Egyptian economic transformation and benefit from investment opportunities provided by the Egyptian government.

He added that France is considered an important partner to Egypt, which hosts more than 150 French companies with 3,000 employees.

The French Ambassador thanked Egyptian authorities, especially Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour, as well as the Egyptian-French Business Council and the French Chamber Of Commerce in Egypt.


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.