A delegation of prominent German companies expressed interest in investing in renewable wind and solar energy, according to Minister of Investment Ashraf Salman.
“The German delegation is interested in pumping more investments in renewable energy, alongside the specialised training programmes for the sector’s workers,” he added.
Salman said joint meetings will be held with businessmen and investors, the concerned bodies affiliated to the Ministry of Investment and the General Authority for Investment and Free Zones (GAFI), and a number of ministries to discuss investment opportunities and means of funding.
Salman met with a delegation of representatives of a number of German companies operating in the renewable energy and oil sectors on Wednesday as well as officials from the German Embassy. The meeting was also attended by a number of officials at the Ministry of Investment and GAFI.
The delegation alluded to the importance of continuing reform efforts and exploiting the positive push brought about by the Egypt Economic Development Conference held in Sharm El-Sheikh last March.
Salman further reviewed the steps taken by the government to reform the legislative system through a package of legislations on economic activity, in addition to the structural reform of the state budget, which was reflected in the reports of the international credit rating agencies – the latest of which was Moody’s report.
Salman noted that the political roadmap is almost complete with the parliamentary elections. The new parliament will participate side by side with the Egyptian government in its efforts and plans for reform and development, especially with regards to bureaucracy, and providing job opportunities.
“Liberalisation of the energy sector in Egypt opened the door to local and foreign private sectors to inject investments in this field,” Salman added.
