Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, inaugurated the Egyptian-French Business Forum during his official visit to France. The event saw the participation of numerous officials and business representatives from both nations. El-Khatib underscored the economic significance of Marseille, highlighting its strategic location as a major port on the Mediterranean coast. He noted that the choice of Marseille for hosting the forum underscores its logistical and economic importance, as well as its pivotal role in strengthening bilateral economic ties between Egypt and France. He added that Marseille is home to the headquarters of many global investment groups, which are key partners with Egypt in sectors such as maritime transport, logistics, and green energy. The city also hosts several economic partnerships looking to enhance collaboration with their Egyptian counterparts to support joint investment projects between Egyptian and French investors. The Minister noted that there are significant opportunities for partnerships between the two countries in priority sectors for both Egypt and France. These include maritime transport, logistics, sustainable green technology, green energy, and hydrogen. El-Khatib underscored Egypt's commitment to green transition, as reflected in President Abdel Fattah Al-Sisi's signing of a series of tax incentives for green hydrogen projects, which aim to boost production and expand its local use across various economic sectors. El-Khatib also pointed out that Egypt seeks greater cooperation with France in the tourism sector, particularly in yacht tourism, aligning with Egypt's goal of becoming a premier global destination for yachting. He further mentioned that Egypt's massive Ras El-Hekma Peninsula development project on the Mediterranean coast, west of Alexandria, has played a pivotal role in attracting foreign direct investments, which reached $46.1bn in FY 2023/24. The project's investments alone amounted to $35bn.
