Egyptian Deputy Executive President of the General Authority for Investment and Free Zones, Walid Anwar, emphasized the depth of economic and investment relations between Egypt and Germany, which have evolved into a strong strategic partnership. Over 1,500 German companies operate in the Egyptian market, with direct foreign investments totaling $1.8 billion. This was stated during the opening session of the Egyptian-German Conference on Sustainable Construction Machinery and Equipment.
Anwar highlighted Egypt's attractive investment opportunities in the construction and equipment sectors, supported by the availability of natural resources and energy sources. The country's strategic location allows access to African, Middle Eastern, and European markets through a wide network of free trade agreements. Egypt's investment environment is further enhanced by a comprehensive package of incentives and benefits offered to investors through various investment systems.
The General Authority for Investment and Free Zones provides investors with full support, from establishing companies and allocating land to obtaining necessary licenses to start operations. Anwar showcased success stories of German companies in Egypt, including Knauf, Heidelberg, BSH, Henkel, Leoni, and Siemens. These examples reflect the growing confidence of German investors in Egypt's investment climate.
The conference featured presentations from major German companies, including BHS-Sonthofen, Claudius Peters, HYDAC International, and Thyssenkrupp Uhde Egypt. These companies presented innovative solutions and technologies in the cement industry. The event was organized by the German-Arab Chamber of Industry and Commerce (AHK) and coincided with a visit by a delegation of German businessmen specializing in construction machinery and equipment for the cement industry.
The Egyptian-German relations have strengthened in recent years, with both countries seeking to enhance cooperation in various fields. Germany is one of Egypt's largest trading partners, and the two countries have a long history of economic cooperation. The current investments of $1.8 billion reflect the confidence of German investors in Egypt's economy and investment environment.
The conference aimed to promote cooperation between Egyptian and German companies in the construction and equipment sectors. It provided a platform for companies to network and explore new business opportunities. Egyptian and German officials emphasized the importance of strengthening economic ties between the two countries and exploring new areas of cooperation.
The event concluded with a renewed commitment to enhancing economic cooperation between Egypt and Germany. Both sides expressed their desire to increase investments and trade between the two countries. The Egyptian government remains committed to providing a supportive environment for German companies operating in the country.
Key points
- Egypt offers attractive investment opportunities for German companies, with over 1,500 firms operating in the country and $1.8 billion in direct foreign investments.
- The Egyptian government provides a comprehensive package of incentives and benefits to investors through various investment systems.
- The conference aimed to promote cooperation between Egyptian and German companies in the construction and equipment sectors.
