Egypt clings to its legal, financial commitment to investors

Visiting Egyptian President Abdel Fattah El Sisi stressed his country's adherence to its legal and financial commitments towards local and foreign investors.

During a meeting with German investors on Thursday, the president assured that Egypt is keen on removing obstacles and routine hampering investors.

In statements to MENA, Industry Minister Mounir Fakhry said the president apprised the German businessmen of investment opportunities in Egypt, especially in the fields of small and medium enterprises.

Fakhry said German companies have stressed during the meeting their support for the Egyptian economy and voiced confidence that Egypt would realize industrial development.

Meanwhile, Martin Herrenknecht, the head of Herrenknecht company which is a worldwide market leader in mechanized tunnelling technology, said the company has been cooperating with Egypt for 20 years, especially in the fields of construction and tunnel equipment.

He noted that the company cooperates with Egypt in the new Suez Canal project, adding that the company would further cooperation with the Arab state in the future.

In statements to MENA, Herrenknecht said "our talks with President Sisi were extremely positive and we agreed on several cooperation axis."

Herrenknecht said he believes that "Sisi is the right person in the right place."

Meanwhile, Siemens Company Senior Spokesman Philipp Encz said cooperation between the company and Egypt is very important in view economic developments.

He added that this cooperation will serve Egyptian people's interests and secure jobs.

He underlined that "Egypt is a key economic partner to Germany and there would be more cooperation in the future."
Source: MENA