Egypt to Host Joint Investment Conference With EU 29-30 June

Egypt has agreed with the European Union (EU) to host the joint investment conference on 29-30 June with the attendance of President Abdel-Fattah El-Sisi and the President of the European Commission, Ursula von der Leyen, the cabinet announced on Thursday 4/4/2024.

The conference also hosts participants from major European economic entities, large investment companies, and investment funds.

Prime Minister Mostafa Madbouly announced the conference during a meeting held at the government headquarters in the New Administrative Capital.

During the meeting, Madbouly instructed the government to provide greater investment opportunities for European companies and entities, particularly in the industrial sector.

He emphasized that several projects should be localized in coordination with European partners.

Furthermore, Madbouly stressed the importance of coordinating with the European Commission in exporting trained Egyptian technical labour to meet the high demand in Europe for such labour.

He also stressed that the Egyptian private sector must participate actively in the conference to establish partnerships with its European counterpart.

For his part, cabinet spokesperson Mohamed El-Homsani noted that a complete file on promoting Egypt's proposed projects for attracting European investments would be sent to Egyptian embassies in Europe before the conference.

Similarly, the head of the General Authority For Investments and Free Zones (GAFI), Hossam Heiba, outlined the authority's plan to enhance investment cooperation with the EU under the Comprehensive Strategic Partnership Agreement.

According to Heiba, manufacturing, services and communications, and information technology have been Egypt's most attractive sectors for European investments since the end of June 2023.

He said Egypt also aims to increase cooperation with Europe on outsourcing services, semiconductor design and development, agriculture, and green energy.

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