H.E. Amb. Badr Abdel Aati to Further Cairo’s Investment Partnerships with Berlin
Egypt plans to increase the volume of German investments according to Embassy of Egypt, Berlin
August 15th, 2019
H.E. Amb. Badr Abdel Aati asserts Cairo’s keenness to establish further investment partnerships with Berlin, describing them as the main and most effective channel to transfer Germany’s advanced technology and systems of management and education to Egypt.
In his remarks, Abdel Aati said that Egypt-Germany investment partnership can lead to creating job opportunities in light of the positive developments achieved by Egypt’s economy and stressed the importance of Egypt's geographic location as a gate to Africa and Europe.
This is an asset that German companies operating in Egypt could use to tap major African markets, Abdel Aati said in a meeting to promote investment in the Arab country.
In addition to this, an African free trade agreement has recently gone into effect, the diplomat said, believing this is yet another asset.
Egypt, Abdel Aati added, is keen on increasing the volume of German investments, especially in the fields of textile, oil, furniture and the digital industry.
He added that foreign currency reserves hit a record high, thanks to a successful economic reform program.
The ambassador made the remarks during his visit to a mega Egyptian-German company specialized in developing medicines, vaccines and biotechnology.
References:
- - https://www.egypttoday.com/Article/3/73663/Egyptian-amb-says-German-investors-could-tap-African-markets-through
- - https://www.egypttoday.com/Article/3/73733/Cairo-keen-to-create-more-investment-partnerships-with-Berlin-ambassador
