France keen to increase investments in Egypt, French PM tells Sisi

France is keen on increasing its investments in Egypt to support development efforts in the country, France’s Prime Minister Jean Castex told Egyptian President Abdel Fattah al-Sisi.

Sisi, who is on an official visit to Paris since Sunday, met Castex to discuss bilateral relations, particularly in the fields of major development projects, energy, transportation, education, health, culture, and tourism, as well as cooperation in the military and security fields.

Castex said the achievements Egypt has made under the leadership of President Sisi make it important to back these developmental efforts to consolidate the role Egypt is playing as a balancing axis for the Eastern Mediterranean and the Middle East, according to a statement released by the Egyptian presidency spokesman Bassam Rady.

President Sisi voiced Cairo’s hope to develop relations with Paris, especially at the economic and commercial levels via increasing the volume of French investments in Egypt given what France represents as one of Egypt’s most important partners in Europe.

He highlighted the current “great” opportunity to make use of the new infrastructure and the improved business climate, which was reflected in Egypt’s “steady” economic performance during the coronavirus pandemic.

Egypt has achieved the highest growth rate in the Middle East and Africa, and the second-highest growth rate in the world, a matter that bolsters confidence in the investment climate in Egypt, Sisi pointed out.

The Egyptian spokesman noted that the meeting covered several regional and international issues of mutual concern, especially as related to the crises in Libya and Syria, as well as the Palestinian issue.

Both sides agreed on the necessity of strengthening national institutions in crisis-stricken countries to fill the vacuum that allowed terrorist groups to spread, the spokesman said.

Over the past couple of days, Sisi met with French President Emmanuel Macron, as well as France’s defence and foreign ministers and the mayor of Paris.