Peugeot-Citroën makes automotive directive a condition for investing in Egypt

Peugeot-Citroën, which had made the automotive directive a condition for its investment in Egypt, has now added the Investment Act to the bundle, Ahram Gate says. The company’s Middle East and Africa Executive VP Jean-Christophe Quémard picked-up the same line other company executives had carried in Cairo in December, telling Trade Minister Tarek Kabil that they would continue to monitor the situation closely before they make the call.

Meanwhile, five French companies are planning on investing in Egypt within three months, Egypt-France Business Council Chairman Fouad Younes tells Al Borsa. Younes declined to name the companies, but said they are in the solar power, athletic supplies, auto manufacturing, and auto component industries. Trade and Industry Minister Tarek Kabil said athletic supplies manufacturer Decathlon is looking into setting up in Egypt, according to Al Mal.