MEDEF delegation visits New Suez Canal to discuss investment opportunities
New Suez Canal project

CAIRO: A delegation of the international Movement of French Enterprises (MEDEF) is scheduled to visit the New Suez Canal project Wednesday with the aim of reviewing the available investment opportunities, Youm7 reported.

The delegation includes businessmen in the infrastructure, transportation, energy and construction fields.

“Egypt Economic Development Conference (EEDC) proved that the Egyptian economy is recovering fast and becoming a factor to attraction to foreign investments,” French Ambassador to Egypt Andre Baran said in a press conference Tuesday.

Trade Minister Mounir Fakhry Abdel Nour said that France is an important trade partner as there are 150 French companies with 3,000 employees in Egypt. He added that the delegation’s visit reflects the French businessmen’s eagerness to know the new investment opportunities in the Egyptian market.

Vice-president of MEDEF International and co-president of the French Egyptian Council (CFEA)Patrick Lucas said that French businessmen have a positive image of the Egyptian economy pointing out that the visit is the 11th since MEDEF was established in 1989.

France participated in the EEDC in which an agreement was signed with the French Development Agency to finance a power plant in Upper Egypt’s governorate of Aswan with a loan of $41.9 million.

Egypt –France trade exchange reached $2.6 million in 2014, Minister of International Cooperation Naglaa el-Ahwany said in a Tuesday statement, adding that the volume of France’s investments in Egypt is approximately $8.5 billion.

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