Egypt’s economic reforms have led to €1.7 bln worth of German investments; says ambassador

The economic reform programme recently implemented in Egypt has encouraged German companies to inject €1.7 billion ($2 billion) of investments in the country, and improved trade exchange between both states, German Ambassador to Cairo Cyrill Nunn said on Sunday.

Economic cooperation is most evident in German companies supplying high-speed trains, hydrogen production, and renewable energy production, Nunn added. Other aspects of cooperation include exchange of tourists, and Egyptian students.

Egypt and Germany also collaborated in launching an immigration centre to highlight local job opportunities for Egyptian illegal migrants who were deported from Germany and Europe.

The ambassador noted that Egypt will receive five million anti-COVID-19 vaccination doses through Covax in the coming period.