Al-Sisi Egypt will build 12 new city

Egyptian President Abdel Fattah Al- Sisi meet the Chairman of Schneider Electric, in the presence of the Egyptian Minister of Electricity and Renewable Energy and Chairman of the Administrative Control Authority.

Ambassador Bassam Radi, Spokesperson for the Presidency of the Arab Republic of Egypt, said that during the meeting, the company’s activities in Egypt were reviewed in the fields of energy, especially renewable energy, infrastructure, information centers and networks. The president welcomed the increasing the cooperation with the company in its various fields of activity.

This comes in the light of the government’s approach to implementing major projects with huge investment opportunities, as well as the Egyptian market as one of the largest markets in the Middle East, Egypt has trained manpower, and the state’s association with free trade agreements with various Arab and African countries which helps Egypt’s manufactured products penetrate the markets of these countries.

The Spokesman added that the President clarified that the State is building 12 new city, including the administrative capital, in order to create a new generation of modern cities, which will be attended by cadres of Egyptian specialists at the level of scientific and technical high, which offers great investment opportunities especially on Light of the integrated legislative framework for investment.

The President also stressed the importance that Egypt attaches to the transfer of technology through the settlement of industries, with the State providing all facilities to achieve that objective.

The Schneider Electric Company stressed the company’s keenness to double its investments in Egypt in light of the opportunities offered by the projects under way and praised the achievements achieved during a record period in various economic projects in Egypt, The third largest market for Schneider, after the United States and China.