Egyptian PM: French investments in Egypt reach USD 7.2 bln.

Egyptian Prime Minister Dr. Mostafa Madbouly said on Monday that the value of French investments in the country reached USD 7.2 billion injected by 940 companies. Madbouly said in a statement before the meeting of the Egyptian-French Business Council with representatives of French companies working in Egypt that these French companies were operating in the sectors of ICT, banking, electricity and energy, constructions, resourcing, transportation, healthcare, automotive. He expressed Egypt's keenness on partnering up with French investors to localize the locomotive and automotive industries, pointing out that Egypt is looking forward to attracting more French direct investments in priority sectors. The Prime Minister stressed that Egypt prioritized the automotive sector, especially electric vehicles, as part of its commitment to support environment adaptation policies. He invited French companies to participate in the Egypt-EU Investment Conference, scheduled for June 29-30, 2024, under the auspices of the Egyptian President Abdelfattah Al-Sisi and President of the European Commission Ursula von der Leyen. Source: Kuwait News Agency