Madbouly and Dombrovskis emphasize Egypt’s potential as an investment center and exporter of renewable energy

Egyptian Prime Minister Mostafa Madbouly and European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis met at the Egypt-EU Investment Conference to discuss Egypt’s potential as a growing investment destination and a key strategic partner for Europe.

During Sunday’s dialogue, Madbouly emphasized that Egypt’s large and young population is a significant advantage for both European and Egyptian companies.

He also highlighted the country’s strategic geographic location, as the Suez Canal controls a significant portion of world trade, as well as its large investments in infrastructure development, especially in transport and energy.

The Prime Minister presented several national projects currently underway, including the development of the Suez Canal Economic Zone, the new city of El Alamein and the New Administrative Capital. All these projects aim to attract further investment in various sectors.

Madbouly has identified promising investment sectors in both traditional industries such as food and textiles and future-oriented sectors such as renewable energy, financial technology and telecommunications.

He stressed the importance of the Memoranda of Understanding signed with European partners on renewable energy and green hydrogen, highlighting the potential of localisation of industries in this sector.

The Prime Minister expressed optimism that Egypt will become a major exporter of green hydrogen to Europe, citing the positive developments and agreements observed during the conference.

Madbouuy reiterated Egypt’s commitment to regional stability, especially in light of recent events in Gaza, and discussed cooperation with the European Union in developing the skills of the Egyptian workforce through targeted training programmes.

Dombrovskis shared the Prime Minister’s opinion, highlighting Egypt’s huge potential in renewable energy, especially in the production and export of green hydrogen to Europe.

He confirmed the European Union’s support for various investment areas in the Egyptian market, with particular emphasis on clean energy and sustainable projects.

The Commissioner emphasized that the implemented projects will contribute to job creation and reiterated the European Commission’s commitment to supporting the Egyptian economy, including macroeconomic stability and investments that stimulate economic growth.

Dombrovskis stressed the need to diversify the Egyptian economy to increase resilience and highlighted the significant opportunities for Egypt’s integration with the European Union, particularly in the fields of renewable energy and green hydrogen.

He hailed the memoranda of understanding and agreements signed during the conference as a key first step towards launching the Strategic Partnership Agreement between Egypt and the EU, and stressed the importance of intensifying work on the remaining six pillars of the agreement.