Monday July 22nd, 2024
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French Investments in Egypt Reach USD 7.2 Billion Across 940 Companies

Saint-Gobain Glass Egypt have also announced plans to invest USD 322.02 million in Egypt over the next three years.

Cairo Scene

French Investments in Egypt Reach USD 7.2 Billion Across 940 Companies

French investments in Egypt have grown significantly, totaling USD 7.2 billion through 940 companies across various sectors, including infrastructure, banking, insurance, energy, transportation, and communications. This development was highlighted during a recent meeting with leaders of the French Chamber of Commerce and Industry and representatives from major French companies operating in Egypt. Saint-Gobain Glass Egypt announced plans to invest USD 322.02 million in Egypt over the next three years, with USD 214.68 million already approved, including a proposal to establish a factory in Sadat City.

The meeting focused on current and future projects, investment plans, and proposals to expand French investments in Egypt. Recent legislative measures by the Egyptian government were outlined, aimed at improving the investment climate and creating a more attractive business environment, with particular emphasis on the incentives offered under the new investment law. Several companies also expressed intent to participate in the upcoming joint Egyptian-European investment conference, scheduled for June 29th to the 30th in Cairo.

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