Egypt's economic reforms attract €1.7B worth of German investments

BY

Sun, 28 Mar 2021 - 01:52 GMT

FILE - German Ambassador to Cairo Cyrill Nunn – Press Photo

FILE - German Ambassador to Cairo Cyrill Nunn – Press Photo

CAIRO – 28 March 2021: German Ambassador to Cairo Cyrill Nunn stated Sunday that the economic reform program undertaken by Egypt has encouraged German companies to inject €1.7 billion of investments in the country, and improved trade exchange between both states.  

 

Economic cooperation is most evident in German companies supplying high-speed trains, hydrogen production, and renewable energy production.

 

Other aspects of cooperation include exchange of tourism, and Egyptian students studying in Germany and three German universities in Egypt. Nunn underlined that Egypt is among the countries having individuals who learn German as well as German schools.

 

Egypt and Germany also collaborated in launching a center in the former to highlight local job opportunities for Egyptian illegal migrants who were deported from Germany and Europe.

 

The ambassador noted that Egypt will receive five million anti-COVID-19 vaccination doses through Covax in the coming period.

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