Germany invests $7.1bln in Egypt through 1215 firms

The German investments in Egypt has reached $7.1 billion through 1215 companies, according to Sahar Nasr, the Minister of Investments and International Cooperation.

The minister invited the German firms to pump more investments in Egypt during the upcoming period.

She added during the Egyptian German Business Forum organised by Federation of Egyptian chambers of Commerce that the German investments in Egypt have included petroleum, chemicals, automotive industry, communications, iron , steel, gas, and automotive sectors.

The minister also noted that the measures have been taken to develop the business environment and remove all the obstacles that have been facing the investors, adding that the new investment law worked on reducing the necessary period to issue licenses.

She added that the German side has further explored the investment opportunities in Egypt yesterday.