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Germany supporting Egyptian Labor

At the end of her visit to the German Capital Berlin, the Minister of Investment and International Cooperation Dr. Sahar Nasr met with Mr. Lars-Hendrik Röller, the Economic Advisor to German Counselor Angela Merkel in presence of the Assistant Minister Dr. Shehab Marzban and the Egyptian Ambassador to Berlin Mr. Badr Abdel Aty.

At the beginning of the meeting, Dr. Nasr pointed out that the purpose of her visit was to follow up on the Counselor Merkel’s visit to Cairo, and to accelerate the implementation of the agreement signed with the German side, whereby it vowed to provide USD 250 million to support the government’s economic program and another USD 250 million to support several sectors, including SME’s and providing funds in support of Egyptian labor.

Röller stressed that Germany was keen on enhancing cooperation with Egypt during the upcoming period on both investment and developmental levels, owing to its strategic place in the MENA region.

Both sides also discussed future projects to be funded by Germany, as well as the results reached concerning funding several projects in the sectors of education, renewable energy, irrigation and SME’s.

Dr. Nasr pointed out that she was looking forward to increased German investments in Egypt, which served as a link between Africa and Asia, and had a strong economic program, besides its efforts to foster a better business environment.

She went on explaining that several reform steps were taken to support the private sector and increase its engagement in supporting different projects. She also pointed out that the government welcomed German investors, and referred to the open policy adopted by the government to promote investment, and its efforts to create an attractive investment climate and to eliminate obstacles facing investors, besides the fact that there were promising investment opportunities in various sectors.

The Minister expressed her wish that Germany enjoyed a better ranking among countries investing in Egypt, as it is currently held the 20th position. According to Dr. Nasr, economic cooperation included vocational training and capacity building, while maximizing benefit from local component and improving the skills of Egyptian labor.

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