French investments in Egypt hit $7.2B via 940 firms

Updated 6/25/2024 8:17:00 AM
French investments in Egypt hit $7.2B via 940 firms

Arab Finance: French investments in Egypt have reached around $7.2 billion through 940 French companies operating in the fields of infrastructure, banking, insurance, energy, transportation, communications, and others, as per a cabinet statement.

The announcement came during a meeting between Prime Minister Mostafa Madbouly, members of the French Chamber of Commerce and Industry in Egypt (CCIFE), and officials at major French firms operating in Egypt.

During the meeting, the French glass manufacturer Saint-Gobain Egypt’s representative mentioned the firm’s plan to invest €300 million in Egypt within the coming three years, adding that a sum of €200 million have already been approved.

Additionally, the firm has submitted a proposal to set up a new glass factory in Sadat City with foreign direct investment (FDI) of €40 million.

Related News