Orange seeks to pump $300M investments in Egypt during 2022

CAIRO – 25 October 2021: The French company, Orange, confirmed its intention to increase its investments in Egypt by about $300 million in 2022.

This came during a meeting with Prime Minister Mostafa Madbouly, held on Monday, with the heads and representatives of a group of the largest French companies, at the headquarters of the French Businessmen Council "MEDEF" in the French capital, Paris, in the presence of a number of Egyptian ministers, the head of the General Investment Authority, and Ayman Soliman, Executive Director of the Sovereign Fund of Egypt.

L'Oreal also confirmed that it exports 85 percent of the production of its factory in Egypt.

Representatives of transportation and engineering companies such as Alstom and SYSTRA also confirmed their happiness to participate in the ambitious transport and railway projects implemented by Egypt.

For their part, the Egyptian ministers reviewed the current and future files of cooperation with France, especially in the field of electricity, telecommunications, and development financing, in addition to the Sovereign Fund of Egypt as the investment arm of the Egyptian government, with its promising components.

Officials of the French Employers Council concluded the session by expressing feelings of friendship and respect for Egypt, expressing their admiration for the strength and stability of the Egyptian state. They also stressed that they would encourage more French companies to enter the Egyptian market.