Sisi urges German companies to benefit from investment chances, new projects

CAIRO – 20 November 2019: Heads of many leading German companies hailed President Abdel Fattah El-Sisi’s personal and periodical review of the measures taken to facilitate the work of German companies in Egypt, a statement by the Presidency read.

This came during a meeting with President Sisi who has been in an official visit to Berlin to attend the G20 Compact with Africa initiative (CwA).

Germany's Economy Minister Peter Altmaier attended the meeting.

The heads of the companies praised the remarkable growth of the Egyptian economy, sponsored by the efforts and procedures adopted by the Egyptian government in this regard, presidential spokesman Bassam Radi said. They referred to the implementation of giant national projects, which can make Egypt a significant developmental partner at the international level.

They also expressed aspiration to discuss opportunities to enhance cooperation between the two countries, in light of the promising investment fields and opportunities in the African country.

President Sisi, for his part, expressed keenness to enhance bilateral relations of economic cooperation with German businessmen and companies, within a framework of mutual interests between the two countries.

Sisi referred to a number of huge investment projects implemented in Egypt including the Suez Canal Area Development Project, which includes many major industrial and logistic areas.

Altmaier, in a separate meeting on Wednesday, expressed his country’s appreciation to the bilateral relations with Egypt in the economic field, and voiced readiness for further bilateral cooperation, according to Radi.

Egypt’s Minister of Investment Sahr Nasr and her German counterpart, Gerd Müller, signed €300 billion agreements on Tuesday, on the sidelines of CwA.

Sisi, earlier on Wednesday, met with German Chancellor Angela Merkel in Berlin, during which Merkel praised the two countries' relations and cooperation, describing it as “unprecedented,” Radi said.

"Egypt is one of Germany’s main partners in the Middle East as it plays a key role in maintaining stability and security in the region," Merkel said.

For his part, Sisi praised the qualitative leap witnessed by the bilateral relations between Egypt and Germany in all fields.