Prime Minister Moustafa Madbouli stressed on Monday 25/10/2021 that Egypt succeeded over the past period in turning from a country suffering from a shortage in energy supplies to a country with major energy surplus.

With more importance attached to clear energy, Madbouli said a power interconnection program was launched between Egypt and Europe through Greece and Cyprus.

The remarks were made by Madbouli during his meeting with representatives of 90 French companies at the headquarters of the French Business Council “MEDEF”.

Electricity Minister Mohamed Shaker, International Cooperation Minister Rania el Mashat, Finance Minister Mohamed Maait, Planning Minister Hala el Saeed, Trade and Industry Minister Nevine Gamea and Egyptian Ambassador in Paris Alaa Youssef attended the meeting.

The head of the French delegation to the meeting said cooperation between the Egyptian-French business council and MEDEF has been going on for three decades now, lauding the current progress achieved by the Egyptian economy thanks to the economic reforms that were carried out in the country with the aim of luring more foreign investments and improving the business climate.

He lauded Egypt’s political leadership that succeeded in restoring stability to the country, expressing thanks to the Egyptian government for clinching many deals with French companies lately, especially in the transport and energy domains.

He added that the French companies are looking forward to more cooperation with the Egyptian side, especially in the domains of renewable energy, water desalination, logistics, healthcare and infrastructure.

Asked about the Egyptian government’s efforts in the natural gas domain, Madbouli said the government took many steps to optimize natural resources especially as regards liquefication of natural gas, saying the government seeks to turn Egypt into a regional hub for natural gas.

Source: State Information Service Egypt