Latest news with #Egyptian-FrenchBusinessForum
Zawya
14-04-2025
- Business
- Zawya
Schneider Electric to digitize Sharm El Sheikh Power Control Center in new agreement with Ministry of Electricity
Schneider Electric has signed a new agreement with Egypt's Ministry of Electricity and the Egyptian Electricity Holding Company to digitize the power control system of the Sharm El Sheikh distribution control center, Invest-Gate reports. The agreement is part of the project's second phase, which also includes control centers in Minya, Upper Egypt, and South Delta. The deal was inked during the Egyptian-French Business Forum, organized by Egypt's Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), Business France, and the French Embassy in Cairo. The event took place alongside French President Emmanuel Macron's recent visit to Egypt. Power distribution control centers play a key role in monitoring and managing electrical grids. The digital transformation will improve real-time response to outages, enable faster restoration of services, reduce network losses, and contribute to a more efficient smart grid by automating issue detection and resolution. Sebastien Riez, CEO of Schneider Electric Northeast Africa & Levant, commented, 'We are proud of our strategic partnership with the Ministry of Electricity and Renewable Energy, which accelerates the digital transformation of Egypt's energy sector. Digitizing distribution control centers is a vital step toward building a smarter, more efficient power grid that supports sustainable growth. We remain committed to delivering innovative, flexible solutions that enhance energy efficiency and support Egypt's sustainable energy future.'
See - Sada Elbalad
07-04-2025
- Business
- See - Sada Elbalad
President El-Sisi to French Investors: Egypt is an Excellent Investment Opportunity
Amir Hagag President Abdel Fattah El-Sisi thanked French President Emmanuel Macron for his efforts in supporting the Egyptian-French partnership at the economic and investment levels. This came during his speech at the Egyptian-French Business Forum held on the sidelines of the French President's visit to Egypt. The President also thanked and welcomed French companies and investors for their attendance, saying, "Egypt is an opportunity" for investment. Over the past ten years, Egypt has worked to create a favorable business and investment climate, establish a strong infrastructure, and spend huge sums on developing infrastructure in various fields." President El-Sisi added, "Egypt is a large market, has extensive trade relations and agreements, and can serve as a gateway to Arab and African markets. It also has a significant human capital, with 60% of its population under the age of forty. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Israeli PM Diagnosed with Stage 3 Prostate Cancer News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Egypt Today
07-04-2025
- Business
- Egypt Today
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."
