German investments in Egypt record $11 billion; says GACIC’s official

Germany is a major investment partner of Egypt in several projects, saying the European country’s investments in Egypt are nearly $11 billion, said an official in the German-Arab industry chamber on Saturday.

Emad Ghaly, head of the German-Arab Chamber of Industry and Commerce (GACIC), made his remarks at the 8th Mediterranean Tourism Forum – MEDITOUR 2019, which is organised by the Association of Chamber of Commerce of the Mediterranean (ASCAME) in cooperation with GACIC in Alexandria.

GACIC aims to attract more German investments in Egypt, particularly in the tourism sector given the ongoing infrastructure development and promising projects carried out by the Egyptian government, Ghaly said.

German tourists constitute one-third of total numbers of tourists visiting Egypt yearly, GACIC official added.