FEDCOC urges German businessmen to increase investments in Egypt

CAIRO - 4 February 2019: President of the General Federation of Egyptian Chambers of Commerce (FEDCOC), the Union of African Chambers of Commerce and the Union of Mediterranean Chambers of Commerce Ahmed el Wakil urged German businessmen to increase their investments in Egypt.

This came in statements he gave on the sidelines of the activities of the Egyptian-German business forum, organized by the German-Egyptian chamber of commerce in Cairo and attended by Trade Minister Amr Nassar, Investment and International Cooperation Minister Sahar Nasr and German Economy Minister Peter Altmaier.

The German side are welcome to invest in many fields including information technology, communication, agricultural services, manufacturing, petrochemicals, engineering and car industries, Wakil said.

Egypt is working on creating an investment-attractive atmosphere on the basis of modernizing business regulations and legislation and restructuring the economy comprehensively, he added.

Egypt is an attractive destination for foreign investments for it is enjoying a political and economic stability and is working in line with the free market mechanisms, Wakil added.