Egypt Investment Minister discusses expansion plans with international firms in Paris

During the Egyptian-French Business Forum in Paris, Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid Saleh, discussed expansion plans with several international corporations. Key discussions included infrastructure, renewable energy, and water desalination with the French group Meridiam, as well as retail expansion in Egypt via the Monoprix brand with the Casino Group.

Additionally, the UAE-based RMB Group is exploring food manufacturing opportunities within the Suez Canal Economic Zone, specifically regarding meat and poultry processing. The Minister emphasized the importance of increasing local manufacturing components and utilizing Egyptian suppliers to support export growth.

Addressing economic indicators, Minister Saleh reported that Egypt’s real GDP growth rose to 5.1% in the 2025/2026 fiscal year, while unemployment decreased to 5.8%. He also highlighted improvements in the business environment, noting that the average time for customs clearance has been reduced from 16 days to approximately 5.8 days as of June 2026. The government is also working on digitalizing licensing procedures and updating company law regulations to support restructuring and mergers.