Egypt is keen to attract more German investments within the automotive, energy, waste management and recycling sectors as well as in digital transformation, explained Minister of Trade and Industry Nevine Gamea during her speech at the Arab German Economic Forum today.

German investments in Egypt currently stands at $2.9 billion revealed an official Trade Ministry statement.

Gamea emphasized the importance of encouraging Egyptian-German joint investments, particularly in light of the many opportunities that Egypt and Germany provide to develop investment cooperation, as well as the strong political ties between the two countries.

The minister went on to encourage companies from both countries to foster partnerships to take advantage of the Egyptian market’s opportunities, highlighting opportunities within the sectors of construction, agriculture, technology and various industrial fields.

Trade between Egypt and Germany grew to around €5.1 billion in 2021, with the statement adding that Egypt and Germany are celebrating 70 years of diplomatic relations this year.

Germany is heavily involved with Egypt in infrastructure projects, as well as education, vocational training and energy supply projects such as gas-fired power plants.