Egyptian-French Business Forum begins in France with focus on green investments
Updated 10/1/2024 1:36:00 PM
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib has officially opened the Egyptian-French Business Forum in Marseille as part of his current visit to France, as per a statement issued on October 1st.
During his speech, El-Khatib discussed major opportunities for partnerships between Egypt and France in key sectors, including maritime transport, logistics, green technology, sustainable energy, and hydrogen production.
The minister emphasized Egypt's commitment to supporting green transformation, citing President Abdel Fattah El-Sisi's signing of tax incentives aimed at boosting green hydrogen projects.
These initiatives aim to scale up production and expand its use across various economic sectors in Egypt, he added.
El-Khatib also expressed Egypt's interest in collaborating with France in tourism, particularly yacht tourism, which aligns with the country’s goal to become a leading destination in this field.
Moreover, he highlighted Marseille's economic importance as a key Mediterranean port, stating that the city’s selection as the forum's host reflects its logistical and economic significance in bolstering bilateral economic relations.
In addition, El-Khatib mentioned that the Ras El-Hekma development project on Egypt’s Mediterranean coast has attracted $35 billion in investments, which contributed to increasing foreign direct investment (FDI) to Egypt to up to $46.1 billion in fiscal year (FY) 2023/2024.
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