Egypt seeks to boost economic cooperation with Germany

Big 5

Egypt’s Investment Minister Sahar Nasr discussed on Wednesday means to boost economic cooperation with Germany in talks with a delegation from Germany’s economy ministry.

Nasr said Egypt looks to increase German investments in Egypt, now standing at  $641.4 million in over 1,100 companies operating in the fields of gas, steel, automotive and telecommunications.

Egypt has recently adopted a series of legislative reforms aimed to lure back investors to put money in the country, offering them a number of incentives including tax breaks.

Germany is one of the largest EU investors in Egypt, and is noted for its industrial mega projects in the area of developing the country’s capacities in producing electricity.

source: Ahram Online