Siemens is considering a presentation by the Egyptian administration to cooperate in the development of the transport sector in railways and maritime transport and to establish a training centre in the Suez Canal Economic Zone (SCZone), according to Minister of Investment and International Cooperation Sahar Nasr.
This came on the sidelines of the visit of President Abdel Fattah Al-Sisi to Germany. Nasr and Mohab Mamish, head of the Suez Canal Authority and chairperson of the SCZone, met with Joe Kaeser, president and CEO of Siemens, and a number of the company’s officials.
Nasr noted that the Egyptian government aims to benefit from German expertise and interest in training. She expressed her appreciation for the keenness of German companies to work and invest in Egypt. She pointed out that the SCZone project will provide many investment opportunities.
She added that Egypt has become an open market for investors to invest in all major projects, stressing that the government is keen on legislative reforms to improve the investment environment and the New Investment Law to support the SCZone.
Kaeser stressed the importance of Al-Sisi’s visit to Germany, in light of the Egyptian-German relations that witnessed continuous development in various fields, noting that the company is keen to expand in Egypt.
Nasr and Mamish both praised the cooperation between Egypt and Siemens, especially the company’s projects in the energy sector in Egypt, as a model for partnership with the government and the private sector.
Mamish pointed out that the SCZone aims at encouraging investors to invest in the development project, through policies that contribute to facilitating and overcoming difficulties for the investor.
Kaeser noted that Siemens is set to enter partnerships in new projects in Egypt and increase training programmes in line with the priorities of the government’s work programme and vision for sustainable development.
During the visit, Nasr met and held talks with several German companies, such as Mercedes and Knauf, to boost their investments in Egypt in the coming period. The representatives of these companies praised the measures taken by the Egyptian government to improve the investment environment.