16 September 2019 02:44 PM

Sisi: Egypt highly appreciates German companies' role in achieving development

Sunday، 03 February 2019 - 04:31 PM

President Abdel Fattah El Sisi said on Sunday 3/2/2019 that Egypt highly appreciates the role played by German companies in achieving the country's economic and social development.

In a meeting with a German delegation comprising CEOs and representatives of major companies and a number of German MPs, the President asserted that Cairo succeeded in making major steps towards consolidating stability, for being the main pillar towards attaining economic growth.

The meeting was attended by German Federal Minister for Economic Affairs and Energy Peter Altmaier, Investment Minister Sahar Nasr, Finance Minister Mohamed Maait and Industry Minister Amr Nassar.

During the meeting, President Sisi told the German delegation that the country's underway economic reform program focuses on increasing spending on the development of health and education systems, with the aim of enhancing services offered to citizens, while supporting the most needy social classes, Presidential Spokesman Bassam Radi said.

Egypt has adopted policies to provide an attractive and competitive business environment, and enacted an integrated package of legislation to remove obstacles in the face of the private sector, in addition to drawing up a comprehensive investment plan for all economic sectors and stepping up anti-corruption efforts, the spokesman quoted President Sisi as saying.

Also, the president briefed the German group on underway mega national projects, with a view to stimulating the economy and raising growth rates and securing more jobs, as well as attracting further foreign investments, the spokesman added.

In this regard, President Sisi cited the Suez Canal Development Corridor project and the government's plan to build a number of new cities, notably the New Administrative Capital (NAC), besides elevating the efficiency of the national road network across the country, and increasing reliance on renewable energy, the spokesman noted.

President Sisi said that Cairo seeks to prepare a national strategy for the automotive industry, with the aim of turning the country into a center for assembling and manufacturing vehicles, welcoming Mercedes-Benz's move to go back to assembling its cars in Egypt.

For their part, the German business delegation members expressed their admiration of the great progress that Egypt made in a few years, saying they are looking forward to pumping more investments in the country over the coming phase, especially in light of ongoing cooperation between the two states in several fields, notably vocational and technical training, petrochemicals, iron and steel, energy and renewable energy, the spokesman said.


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