Egypt eyes €6 billion French Investments in 2017 – Council

Egypt targets boosting French investments volume in its market to reach €3.5 billion at the end of 2015, opposed to 2014’s €3 billion, and €6 billion in 2017, the head of Egyptian-French Business Council, Fouad Younis said in an interview with Amwal Al Ghad.

Making use of Egypt’s Economic summit, the council is currently forming Egyptian delegation to visit France at the middle of next May as well as holding a seminar to discuss the steps of economic reform recently made by state and investment opportunities available in Egypt, the head stated.

He noted that The French firms aim to participate effectively in number of Egyptian fields like infrastructure, energy, and retail.

The delegation will encompass 15 members of the council to hold meetings with 30 large French firms that eyes investing in Egypt within the upcoming period.

Younis asked to establish maritime line connecting Egypt and France to facilitate the movement of mutual trade, exports and imports, noting that number of French companies eyes seizing available investment opportunities in national projects like New Suez Canal project and Golden Triangle project.

In 2014, France was the fifth largest state investing in Egypt as there are 100 French firms working in number of Egyptian fields like banking, tourism, communications, energy, mining and other important fields.

Talking about Egypt Economic Development Conference (EEDC), Younis expressed that the French mission was one of the largest European delegations participating in the conference as it compassed 30 firms and 50 businessmen.

During the summit, France has signed number of contracts to execute projects in Egypt , most prominent is executing the 4th phase of the third metro line project with EGP11 billion (US$ 1.4billion) as well as executing number of infrastructure projects in New Suez Canal Project.

Moreover, French companies had signed MoUs with Egyptian government in other projects especially in oil, energy, and roads sectors.