The Egypt-France Business Council (CFEA) is targeting an increase in the size of French investments in Egypt to around €4 billion ($4.6 billion) at the end of 2017.
In 2016, France’s investments in Egypt stood at €3.6 billion.
The council’s current plan is to target a 10 percent annual growth in the volume of French investments, focusing on areas of new and renewable, sustainable cities, and industry in Egypt, the Egyptian side president Fouad Younes told Amwal Al Ghad on Sunday.
“The council is currently preparing for French President Emmanuel Macron’s anticipated visit to Cairo before the end of the current year.” Younes added.
During his visit, Macron will announce a bundle of new investments and projects in the country, mainly in Suez Canal and the French industrial zone in Borg El Arab, the Egyptian official stated.
On the sidelines of Macron’s visit, the council seeks to organise a business forum inviting major French and Egyptian firms, Younes added.
There are around 100 French firms operating in Egypt in areas of banking, tourism, communications, distribution, energy, mining, infrastructure, electrical equipment, pharmaceuticals, and food industries.