As part of the official visit of German President Frank-Walter Steinmeier to Egypt for the inauguration of the Grand Egyptian Museum (GEM), a high-level delegation of leading German business representatives visited Cairo to explore new avenues of cooperation and investment. Abdelaziz El-Sherif, First Undersecretary and Head of the Egyptian Commercial Service (ECS), took part in a meeting organised by the German Embassy in Cairo, which brought together representatives from German government bodies, investors, and Egyptian officials. El-Sherif highlighted the strong and long-standing economic partnership between Egypt and Germany, stressing that Egypt's recent economic and legislative reforms have enhanced macroeconomic stability and improved the overall investment climate. These efforts, he said, have positioned Egypt as a leading destination for foreign investment in the Middle East and Africa. He revealed that German investments in Egypt have exceeded $3bn, with more than 1,000 German companies currently operating in various sectors including manufacturing, energy, telecommunications, and transport. El-Sherif pointed to several success stories in bilateral cooperation, notably the recent inauguration of Bosch's new factory in 10th of Ramadan City, established with an investment of around $64m to produce gas appliances, half of which are expected to be exported to African and Middle Eastern markets. He also reviewed key positive economic indicators reflecting Egypt's resilience and progress under ongoing reform programmes, noting that the government continues to implement targeted policies to encourage private sector participation and attract sustainable foreign direct investment. El-Sherif further underscored Egypt's competitive advantages, including low production costs, a skilled and cost-effective workforce, and a broad network of free trade agreements that grant access to major markets across Europe, Africa, and the Middle East. He also highlighted the diverse range of investment incentives available under Egypt's Investment Law, designed to facilitate and support international investors. Concluding his remarks, El-Sherif invited German companies to expand their presence in Egypt and leverage the country's strategic geographic position as a trade hub linking Europe and Africa. He reaffirmed the ECS's full commitment to providing assistance and facilitating the operations of German businesses seeking to invest in or expand within the Egyptian market.
