Egypt secured 35 agreements totaling 67.7 billion euros during the Egyptian-European Investment Conference held in Cairo over the weekend. Prime Minister Dr. Mostafa Madbouly announced that 29 agreements worth 49 billion euros were signed with EU-affiliated companies, while 6 agreements valued at 18.7 billion euros were signed with other alliances and companies.
Dr. Madbouly emphasized that the goal of these agreements is to boost exports to the European Union. The agreements cover a range of sectors including green hydrogen projects, electric cars, infrastructure, sustainable transportation, and information technology. These projects align with the EU’s goals to support the green economy in the future.
The Prime Minister expressed Egypt’s commitment to translating the signed agreements into tangible projects on the ground to support the economy, attract foreign investments, and create job opportunities. Despite economic challenges, Egypt has implemented a robust economic reform program to address structural imbalances in the economy while considering social aspects.
Dr. Madbouly underscored the importance of deepening partnerships with the European Union through initiatives like the investment conference. The event included dialogue sessions and bilateral meetings between the private sector and official bodies to foster cooperation and discuss key sectors of the Egyptian economy.
Egypt is determined to continue its economic reform efforts to realize development plans and improve the quality of life for its citizens. The country looks forward to ongoing collaboration with the EU and plans to hold the second session of the investment conference in 2025 to further strengthen bilateral relations and economic ties.