A number of prominent German companies and businessmen are carefully monitoring developments in the Egyptian market, looking to pumping further investments, said head of the Bundestag’s Committee on Economic Affairs and Energy, Peter Ramsauer.
Prime Minister of the caretaker government Ibrahim Mehleb had met German delegations on Sunday, most prominently Ramsauer. The meeting was attended by interim Minister of Trade and Industry Mounir Fakhry Abdel Nour, and the Chargé d’Affaires of the German Embassy in Cairo.
“German-Egyptian relations are witnessing a strong momentum in this period”, said Ramsauer, noting that they especially strengthened after the bilateral cooperation in many joint projects in the fields of electricity and energy. He asserted that his committee is keen on supporting and strengthening these relations.
On his part, cabinet spokesman Hossam El-Kawish said the prime minister spoke of developments in the Egyptian economy, and the government’s efforts to attract more investments and provide the proper climate for them.
According to Mehleb, there are many promising opportunities and giant projects in the Egyptian economy that international companies can contribute to and benefit from, which will increase economic growth rates. Mehleb also discussed the ongoing preparations to complete the final phase of the political roadmap by electing a parliament.
Mehleb held an expanded meeting with the members of the German delegation, which included representatives of major German companies operating in Egypt or interested in entering the Egyptian market. The meeting was attended by the Ministers of Trade and Industry, Supply, Investment, and the Chairman of the Federation of the Egyptian Chambers of Commerce.
The prime minister added that Egypt seeks to increase cooperation with Germany in the fields of technical education and vocational training for youth, towards enabling better employment opportunities in the Egyptian and foreign market. Mehleb praised German company Siemens’ accomplishments in the field of electricity.
“We are paying a high price in facing terrorism and achieving stability for Egypt, to acheive stability for the region and the entire world. Terrorism has no religion, nationality or limits. We are facing terrorism and working on building our country and economy, under many challenges,” Mehleb said.
Mehleb also received members of the German-Arab Chamber of Commerce and presented the projects that are set to be implemented in Egypt in the coming period. He outlined ways to overcome a number of challenges facing some German companies.
The interim prime minister asserted that Egypt is a young state, as the percentage of youth is about 60% of the population. This represents huge potential for work and production, especially when the youth receive the proper training, as they would become a great economic power.
“The next period will witness the implementation of more large projects, including the development of the Suez Canal area, in addition to the projects of reclamation of agricultural land, building roads, and others,” added Mehleb.
