Germany’s investments in Egypt tops $7billion
06-02-2019 10:40:12 | by: Bob Koigi | hits: 3161 | Tags:

Germany has invested at least $7.1 billion across different Egypt fields with some 1215 German companies operating in the country according to Investment and International Cooperation Minister Sahar Nasr.

The investments, she said, are concentrated in information technology, communication, agricultural services, manufacturing, petrochemicals, engineering and car industries, among others.

The minister made her statements on the sidelines of the activities of the Egyptian-German business forum, organized by the German-Arab Chamber Of Industry and Commerce and attended by Trade Minister Amr Nassar, Minister of Petroleum Tariq El Molla and German Federal Minister for Economic Affairs and Energy Peter Altmaier.

Nasr urged the German companies to make further investments, asserting the importance of the Egypt-Germany strategic partnership.

She pointed out that Egypt, under President Abdel Fattah El Sisi, places high priority on investing in human capital, citing great progress made in implementing the plan of economic development.

El Molla affirmed the importance of fostering cooperation and strategic partnership between Egypt and Germany and expressed hope for more partnerships and signing of more agreements to strengthen economic relations between the two countries in the oil, gas and petrochemical domains.