German companies are looking to expand their presence in Egypt and invest in new projects, with opportunities in technology, industrial localization and workforce development drawing growing interest, German Ambassador to Egypt Jürgen Schulz said.
German businesses are particularly interested in exploring investment opportunities in the Egyptian market, Schulz said, adding that Germany is seeking to strengthen economic and industrial cooperation and support the expansion of its companies in Egypt.
Trade between Egypt and Germany reached around €6 billion last year, Schulz said.
His remarks came during a roundtable hosted by the Ministry of Industry with representatives of 11 German companies, including businesses already operating in Egypt and others considering new investments.
The participating companies included Bavaria Egypt for Fire Fighting Solutions, BSH Home Appliances, DMG MORI, Heidelberg Materials, Knauf, Leoni Egypt, Mercedes-Benz and Siemens.
Industry Minister Khaled Hashem said the ministry is working to identify the challenges facing foreign investors and support companies’ expansion plans, while strengthening links between German and Egyptian businesses.
The ministry is particularly seeking to attract German companies specializing in advanced technologies, with a focus on technology transfer, innovation, industrial upgrading and partnerships between private-sector companies in both countries.
Hashem said the ministry is also implementing a local supplier development program aimed at improving the capabilities of suppliers across various industries and helping them integrate into global supply chains.
The ministry is developing a “Qeema” certificate to assess industrial establishments and link incentives to efforts to increase local content, deepen manufacturing, develop suppliers, invest in technology and research and development, and train workers.
The minister also highlighted the National Automotive Industry Development Program (AIDP), which offers incentives to attract global automakers and increase local manufacturing and the use of domestic suppliers in both conventional and electric vehicle production.
German-Arab Chamber of Industry and Commerce Chairman Mostafa El-Bagoury said German companies have operated in Egypt for more than 100 years and have established a strong position in the Egyptian market.
The chamber is marking its 75th anniversary this year, El-Bagoury said, highlighting the role of German companies and the chamber in transferring technology, developing skills and creating jobs in Egypt.
