Schneider Electric’s Investments In Egypt To Up 30% In 2014

The French company Schneider Electric aims at boosting its investments in Egypt, from 10 to 30% till 2014.

Walid Sheta, Business Development and Marketing Director at Schneider Electric, said there is a problem in Egypt, which is that the industry depends on joining the products after importing them. He referred that the Egyptian market depends on a French company over producing high purity copper which is used in manufacturing electric devices.

The current period needs depending on designs for industries and implementing them instead of joining the industrial components.

On the other hand, he pointed to the difficulty of boosting the foreign investments in the field of energy, in case that the government hasn’t taken any new procedures aim at encouraging the global companies. This would be through the electric energy which is being generated from solar plants or wind at high costs and provided to the citizen at low costs.