Some 29 French companies discussed plans to invest in the local manufacturing and transport sectors during a meeting with Industry and Transport Minister Kamel El Wazir yesterday, according to a statement. The meeting focused on potential collaborations across a far-ranging slew of industrial sectors as part of the state’s plan to transform Egypt into a regional industrial and logistics hub.

ICYMI- Egypt and France inked a strategic partnership agreement earlier this week during French President Emmanuel Macron’s official visit to Cairo which kicked off earlier this week. The two countries also signed nine agreements with the EU for soft loans and grants worth a combined EUR 262.3 mn for infrastructure projects in Egypt, in addition to numerous other agreements with the French private sector.

A handful of major French players chimed in, presenting their investment and expansion plans for the local market:

  • Planemaker Airbus outlined plans to expand its local helicopter manufacturing and maintenance operations, including a feasibility study for producing specialized aircraft for tourism and medical transport;
  • Pharma giant Servier wants to expand its Sixth of October factory in a bid to double its production as well as to manufacture cancer drugs;
  • Building and engineering group Artelia voiced its interest in participating in transportation projects funded by the French government, including the Alexandria tram as well as airport and metro initiatives;
  • Railway signalling specialist CDS explored a potential partnership with Italy’s Mermec to develop railway signalling systems, with all required components to be manufactured locally;
  • IT consulting firm Capgemini wants to develop Egypt’s IT infrastructure;
  • Banking giant Societe Generale discussed financing for upcoming transport projects.

The discussions focused on four key cooperation mechanisms — localizing different industries, resolving challenges facing French companies operating in the country, eliminating obstacles to investment, and boosting investment volumes in the transportation and manufacturing sectors.

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