The head of the Investment Authority discusses with the German Chambers of Industry to increase investments in Egypt

Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones, met Dr. Martin Wanselpen, CEO of the Federation of German Chambers of Industry and Commerce; To set cooperation mechanisms between the two sides to increase German investments in Egypt and maximize the investment partnership between the two countries, in the presence of Jan Noether, CEO of the German-Arab Chamber of Industry and Commerce in Cairo.

During the meeting, Counselor Mohamed Abdel Wahab stressed the keenness of the General Investment Authority to meet with German investors; In order to follow up on the status of the activity of the German companies based in Egypt, as well as review the new investments that the companies intend to inject into the Egyptian market during the next stage.

The CEO of the authority reviewed with the German side the efforts of the Egyptian government to create an attractive investment environment, as well as tax and investment incentives that are granted to companies, especially those working in the field of green economy, artificial intelligence and industrial localization.

In this regard, Abdel Wahab stressed that the authority seeks to open more prospects for cooperation with the German side to attract and encourage German investments in Egypt. To deepen the benefit of German expertise in many vital sectors, the most important of which is the industrial sector and clean energy, pointing to the importance that the Egyptian state attaches to supporting the private sector and encouraging foreign investments.

Counselor Mohamed Abdel Wahab also clarified the Investment Authority’s interest in participating in investment activities with the German business community inside and outside Egypt, and the keenness to meet with major German companies interested in investing in Egypt; To present the investment opportunities available in areas of common interest.

The CEO of the authority also noted that it was agreed, during the meeting, to activate institutional cooperation between the General Investment Authority and the German Chamber, by forming a joint working group for continuous communication with German investors. With the aim of identifying mechanisms for enhancing existing investments, solving any challenges facing companies, in addition to holding joint economic activities between the two sides; To attract more German investments to Egypt.

For his part, Dr. Martin Unselpen praised the strategic relations between the two countries on the economic level, and praised the economic reforms and measures taken by Egypt to confront the recent global crises, pointing out the importance of consolidating investment and economic relations between the two countries, and the continuation of cooperation between the two sides, especially in light of the desire Many German companies enter the Egyptian market.

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