Council: Egypt to send two business missions to France late 2015

The Egyptian-French Business Council intends to send two delegations to France within the coming months this year, head Fouad Younis said Wednesday.

The two missions are to showcase the available investment opportunities as well as promoting the national large projects executed by Egypt recently, notably the New Suez Canal.

Younis told Amwal Al Ghad that the council will send a delegation encompassing 20 member firms next December to participate in the economic forum organized by the Arab World Institute in Paris.

During the forum, the Egyptian delegation is to discuss Egypt current economic situation, bilateral relations and the investment opportunities available in Suez Canal Axes project and Golden Triangle project.

Younis added that there would an earlier visit next October or November to France present investment opportunities in national projects notably after holding meetings with ministers of the economic portfolios within the upcoming period.

The Egyptian official also stated that France is the fifth largest investor in the Egyptian market during 2013-2014 with investments worth around €3 billion.

He noted that the council aims to increase those investments by 10% at the end of 2015 to reach €3.5 billion.

There are around 100 French firms working in Egypt in different sectors: banking, tourism, communication, energy, building materials, pharmaceutical, cosmetics, automotive and agricultural products.