Egypt Prime Minister, French president mull investment opportunities

Prime Minister Sherif Ismail met on Monday with French President Francois Hollande.

Ismail welcomed Hollande's current visit to Egypt, praising deeply-rooted relations between Cairo and Paris.

He hoped cooperation would be boosted in all fields.

The premier said the Egyptian state managed to hold parliamentary elections as the last step of a political road-map announced following the June 30 revolution.

He noted municipal elections will be held this year, a step that cements the decentralization and improves public services.

The premier pointed out to economic reforms that have been conducted by the government with a view to luring investments and creating a developed and economic entity to increase the growth rate to 5.2 percent in 2017.

Egypt is also implementing a number of mega projects in the sectors of transport, agricultural reclamation and housing, he also noted.

Ismail hoped more French investments will be channeled into the new and renewable energy field, said the cabinet spokesman Hossam el Qawish.

He looked forward to taking necessary steps by the French side to increase French tourism to Egypt.

Ismail lauded businesses of French companies in Egypt including Total and Orange in the fields of energy and communications.

The French president expressed pleasure over his current second visit to Egypt in office. He noted he attended the official inauguration of the New Suez Canal.

He hailed efforts taken by the Egyptian government to achieve economic reforms to attract foreign investments.

Source: MENA