Egypt’s El-Wazir talks bilateral investment at CCE MENA
Egypt’s Minister of Industry and Transport Kamel El-Wazir participated in Forum CCE MENA, organised by the National Committee of French Foreign Trade Advisors, a Cabinet statement said on Thursday.
In his opening remarks, El-Wazir expressed his pleasure at attending this important regional economic forum, held in Egypt to explore cooperation between France and the North Africa and Middle East region.
He said the forum aims to enhance economic and investment cooperation by providing a platform for private sector interaction and exchanging views on the investment climate, as per the statement.
El-Wazir stressed the strategic relationship between the two nations, underscoring their long-standing history of cooperation and mutual understanding, which now serves as a model for resilient partnerships in the face of global challenges. He recalled the recent high-level official visit by French President Emmanuel Macron to Egypt, which demonstrated the fruitful bilateral cooperation between the two countries in various fields, the statemeent added. The visit culminated in the announcement of elevating bilateral relations to the level of a strategic partnership—an important step to deepen cooperation and open new avenues that serve the shared interests and aspirations of both nations.
El-Wazir emphasised that the Cairo–Paris relationship encompasses not only strategic political cooperation and coordination but also extends to economic, trade, and cultural partnerships, highlighting that it goes beyond government-level ties.
He said that the Ministries of Industry and Transport are adopting strategies to attract investment, improve the business environment, and support Egypt’s development goals, particularly in securing foreign currency and reducing import costs.
He added that the Ministry of Transport is focusing on optimising infrastructure, energy efficiency, carbon reduction, and sustainability. These efforts aim to establish Egypt as a regional transport and logistics hub, leveraging the country’s strategic location and modern infrastructure as key assets in global supply chains.
El-Wazir welcomed French companies to execute this strategy for mutual benefit, emphasising the importance of cooperation in clean energy, digital transformation, infrastructure, transport, healthcare, and technology.
He highlighted the promising investment opportunities in Egypt, particularly due to the government’s emphasis on sustainable development, financing green projects, and modernising the logistics, transport, communications, and energy sectors.
El-Wazir highlighted that Egypt offers incentives for key sectors, including renewable energy, green hydrogen, textiles, IT, automotive manufacturing, pharmaceuticals, and food processing. These sectors benefit from the country’s strategic location, youthful workforce, and advanced infrastructure.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama