07-04-2025
Cairo hosts Egyptian-French Business Forum to enhance economic cooperation
Cairo – April 7, 2025: The Egyptian-French Business Forum commenced in Cairo today, attracting significant participation from top officials and business representatives from both countries.
During the opening session, Hossam Heiba, CEO of the General Authority for Investment and Free Zones, highlighted the importance of the visit by French President Emmanuel Macron to Egypt, describing it as a crucial step in advancing the strategic partnership between the two nations.
"This visit comes at a critical juncture as Egypt seeks to open broader avenues for international partnerships," said Heiba, stressing that both Egypt and France share a common vision for a future grounded in innovation, sustainable development, and mutual prosperity.
Heiba noted that under the leadership of President Abdel Fattah El-Sisi, Egypt has made significant strides in implementing structural economic reforms that have bolstered the investment climate.
He pointed out that Egypt attracted $46.6 billion in foreign direct investment in 2024, a clear indication of growing international confidence in the Egyptian economy.
Looking ahead, Heiba shared that Egypt has set ambitious targets for the coming years, including attracting $60 billion in foreign direct investments and raising exports to $145 billion. He also emphasized that the private sector is expected to contribute 65 percent of total investments by 2030, aligning with Egypt's long-term economic growth strategy.
Heiba further revealed that France is one of Egypt's key partners, with over $7 billion invested in the Egyptian market. French companies have also played a significant role in creating more than 50,000 job opportunities across various sectors.
The Egyptian government's commitment to fostering a competitive business environment was also underscored by Heiba, who highlighted recent initiatives such as the 2023 state ownership policy and the introduction of the "golden license" to expedite the licensing process for major investment projects.
France's investment in Egypt, particularly in sectors such as clean energy, digital transformation, infrastructure, transportation, health, and technology, presents significant opportunities for French businesses. Heiba assured that Egypt is well-prepared to support French investors and facilitate their market entry, enhancing the already dynamic partnership between the two nations.
In a separate statement, Ayman Ezzat, Chairman of the Egyptian-French Business Council, expressed that the forum marks an essential opportunity to further cement economic collaboration between Egypt and France. Ezzat pointed out that recent economic reforms have prioritized private sector participation in development, leading to successful partnerships with the government, including over $1 billion in investments in education, transportation, and infrastructure.
"The visit of President Macron represents a new chapter in Egyptian-French relations," said Ezzat. "Our goal is to strengthen investments and foster partnerships based on innovation, building bridges between our peoples and companies to ensure a prosperous future for both countries."
