PM receives representatives of 16 German companies to probe investment in Egypt

CAIRO - 23 March 2022: Prime Minister Moustafa Madbouli asserted German investments are the largest business in the Egyptian market.

 

There are nearly 100 German companies that work in the different sectors, with special focus on IT, smart transportation and health, which provide the surplus value for the Egyptian economy, along with its main contributions to transferring technical expertise, added Madbouli at talks with Board Chairman of the German Near and Middle East Association (NUMOV) Martin Herrenknecht and his accompanying delegation Tuesday.

 

The visiting delegation included representatives from 16 German companies in different fields and aimed at holding meetings with senior officials to push forward joint economic cooperation vistas and ways of upping German investments in the Egyptian market.

 

A galaxy of ministers and senior officials attended the meeting.

 

The delegation's visit offers an important chance for boosting horizons of cooperation with Egypt, said the premier.

 

Madbouli pointed out to President Abdel Fattah El Sisi's utmost interest in expanding smart transport projects and strengthening electric automotive industry in Egypt.

 

In turn, Herrenknecht said the visit reflects distinguished economic relations binding the two countries.

 

He commended the volume of achievements made by the government in the New Administrative Capital (NAC).