German companies ready to pump investments in Egypt

President of the German-Arab Chamber of Industry and Commerce Rainer Hirit said on Wednesday that many German companies are willing to pump more investments in Egypt, especially in mega projects like the Suez Canal Development Corridor.

He made the remarks in a press conference held on the sidelines of a technology fair called " Bauma 2016".

The German official asserted that the Egyptian market is a promising market containing several investment opportunities in various fields, especially in the energy field.

He called for participating in the " Bauma 2016" fair as the Egyptian companies could make good use of the modern experiences and technology available in that regard.

The German construction sector has investments in Egypt estimated at $70 million and the number of companies working in that sector reached 108 companies, according to Hirit.

These figures show the German companies' interest to invest in construction projects, including the infrastructure ones, he asserted.

Meanwhile, the German official stressed that Egypt will play a key role during the coming period in attracting several European investments to the African continent where numerous investment opportunities are untapped.

The fruitful cooperation between Egypt and Germany will contribute to providing a joint and strong market between European and African countries, he underlined.