940 French firms operate in Egypt with investments worth $7.2B: PM

CAIRO – 24 June 2024: In a meeting with representatives of French companies working in Egypt, Prime Minister Mostafa Madbouli stated Monday that the value of French investments in the country amount to $7.2 billion injected by 940 firms.

They are operating in the sectors of ICT, banking, electricity and energy, constructions, resourcing, aviation, transport, healthcare, pharmaceuticals, automotive, garments, and maritime transportation.

The prime minister reiterated Egypt's keenness on partnering up with French investors to localize the locomotive and automotive industries. Further, he stressed the importance of boosting trade exchange between the two countries as it stood at just €4.4 billion in 2022.