{"id":646379,"date":"2017-06-13T04:08:35","date_gmt":"2017-06-13T04:08:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/13\/egypt-needs-to-strengthen-rule-of-law-to-attract-investors-german-economy-minister-says\/"},"modified":"2017-06-13T04:08:35","modified_gmt":"2017-06-13T04:08:35","slug":"egypt-needs-to-strengthen-rule-of-law-to-attract-investors-german-economy-minister-says","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/13\/egypt-needs-to-strengthen-rule-of-law-to-attract-investors-german-economy-minister-says\/","title":{"rendered":"Egypt needs to strengthen rule of law to attract investors, German economy minister says"},"content":{"rendered":"

<\/a> El Sisi pitches investment opportunities in Berlin:<\/strong> President Abdel Fattah El Sisi urged German companies on Monday to capitalize on investment opportunities and build industrial zones in Egypt, highlighting his administration\u2019s economic reform drive and efforts to improve the country\u2019s business climate, according to an emailed Ittihadiya statement. In his opening speech at the fourth session of the Egyptian-German Business Forum in Berlin, El Sisi stressed in particular investment in Egypt\u2019s auto industry as one of the country\u2019s \u201cpromising sectors,\u201d <\/strong>noting that there is a \u201cnational strategy\u201d underway for the industry (an obvious reference to the automotive directive, which faces opposition in the European Union in general and in Germany in particular). The president also noted opportunities in renewable energy.<\/p>\n

German Economy Minister Brigitte Zypries also zeroed in on renewable energy<\/strong> and said Germany is offering export and investment guarantees to pave the way for more business. Zypries also said Egypt needs to \u201cstrengthen its rule of law and allow greater religious freedom if it wants to attract more foreign investment.\u201d<\/strong> She made the remarks at a joint press conference with El Sisi yesterday, according to Reuters<\/a>.<\/p>\n

El Sisi and German Chancellor Angela Merkel spoke on illegal migration <\/strong>(among other topics), with the chancellor reiterating that Germany is prepared to support Egypt\u2019s effort to stem the flow of migrants, according to Ahram Gate<\/a>. Nothing as significant as Merkel\u2019s pledge last March of USD 500 mn in new aid<\/a> for Egypt was announced. Their meeting came at the sidelines of a conference on investment in Africa attended by African leaders and representatives from the African Development Bank, IMF, the World Bank, and major German firms. El Sisi also discussed security cooperation and Egypt\u2019s anti-terror strategy with Germany\u2019s Interior Minister, according to an Ittihadiya statement.<\/p>\n

El Sisi also met with CEOs of major German companies<\/strong> to discuss investment in Egypt\u2019s private sector. On the president\u2019s agenda, as always, was Siemens CEO Joe Kaeser, who touted his company\u2019s achievements in the power industry, according to Youm7<\/a>.<\/p>\n

Also in Germany was Investment Minister Sahar Nasr, who signed three agreements <\/strong>worth EUR 203.5 mn yesterday<\/strong>, according to a ministry statement<\/a>. EUR 141.5 mn is earmarked for a wind power facility in Suez, an energy efficiency program, an SME development project, and a program for irrigation and wastewater treatment. The balance will support renewable energy, technical education and SMEs, among other projects.<\/p>\n

Separately, Trade and Industry Minister Tarek Kabil <\/strong>met with German officials to push for more investment in national megaprojects including the 1.5 mn feddans desert reclamation drive and the Golden Triangle development project, Al Shorouk reports<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

El Sisi pitches investment opportunities in Berlin: President Abdel Fattah El Sisi urged German companies on Monday to capitalize on investment opportunities and build industrial zones in Egypt, highlighting his administration\u2019s economic reform drive and efforts to improve the country\u2019s business climate, according to an emailed Ittihadiya statement. In his opening speech at the fourth […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646379","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7a440fc9-93d4-480e-aec8-bbcf709c27c0","order":"0","is_powered_by":true,"section_story_id":"b032eb33-df4e-4a7c-91db-b6c83c1a5382","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646367],"teaser":"","voice_url":""},"yoast_head":"\nEgypt needs to strengthen rule of law to attract investors, German economy minister says - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/13\/egypt-needs-to-strengthen-rule-of-law-to-attract-investors-german-economy-minister-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt needs to strengthen rule of law to attract investors, German economy minister says\" \/>\n<meta property=\"og:description\" content=\"El Sisi pitches investment opportunities in Berlin: President Abdel Fattah El Sisi urged German companies on Monday to capitalize on investment opportunities and build industrial zones in Egypt, highlighting his administration\u2019s economic reform drive and efforts to improve the country\u2019s business climate, according to an emailed Ittihadiya statement. 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