A high-level delegation from Business France has met with senior executives from Elsewedy Industrial Development, a subsidiary of Elsewedy Electric.
The meeting comes as part of the delegation’s visit to one of Elsewedy Industrial Development’s projects in 10th of Ramadan city.
It aims to promote Egypt as a global investment destination, while highlighting Elsewedy Industrial Development’s business fields and opportunities for cooperation with French companies and businesses represented by the agency.
Business France is a French government agency that promotes French exports and investments around the world, and foreign investments in France.
The delegation’s visit to Elsewedy Industrial Development comes as part of the activation of a Memorandum of Understanding (MoU) that the two sides signed in February. This occurred during the promotional tour organised by the Egyptian company in France, and a number of other European countries, with the aim of encouraging joint commercial initiatives.
It also seeks to enhance opportunities for cooperation, investment and joint business between the two sides.
Mohamed Ashour, Chief of Investment and Business Development at Elsewedy Industrial Development, said, “France represents a strategic partner for Egypt in many fields, especially investment and business and the visit of Business France delegation represents a distinguished page for relations between Egypt and France.”
For his part, Philippe Garcia, Commercial Counsellor at the French Embassy in Egypt and Director of the Business France Agency, said, “Egypt represents one of the most important investment destinations in the region, and it is the focus of attention of major French investors now more than ever.”
Business France’s visit coincides with the visit of Egypt’s President Abdel Fattah Al-Sisi to France. It also confirms the French side’s interest in investing in the Egyptian market, and discussing investment opportunities with major Egyptian business groups, of which Elsewedy Electric and its subsidiaries are part.