Cairo - September 30, 2024: Speaking at the Egyptian-French Business Forum in Paris, Minister of Investment and Foreign Trade, Hassan El Khatib, underscored France's crucial role in Egypt's sustainable development efforts and emphasized the robust economic relations between both countries.
With French investments in Egypt totaling €7 billion across 180 projects, France is recognized as one of Egypt's largest investors, explained El Khatib. contributing to approximately 50,000 jobs in various sectors, including manufacturing and telecommunications.
The forum was attended by numerous officials and business representatives, including Dr. Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development, and Sophie Primas, the newly appointed French Minister of Foreign Trade. El Khatib congratulated Primas on her appointment and expressed eagerness to enhance bilateral cooperation.
El Khatib noted that this event builds upon the 2023 investment conference between Egypt and the European Union, which resulted in 20 agreements valued at €40 billion across key sectors such as green hydrogen, water management, chemicals, shipping, aviation, and automotive industries.
During his visit to France—his first trip to Europe since taking office—the investment minister reiterated Egypt's commitment to ongoing economic reforms aimed at improving the investment climate and attracting foreign capital.
Egypt has maintained its position as the largest recipient of foreign direct investment in Africa for two consecutive years, he added, achieving a historic peak of $46.1 billion in FY2023/2024.
El Khatib also highlighted Egypt’s strategic geographical location, which connects Europe, Asia, and Africa, providing access to a consumer market of 106 million people and a skilled workforce of 31 million.
The country’s competitive investment conditions and numerous free trade agreements continue to present significant opportunities for investors, El Khatib noted.
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