Investment min., CEO of Siemens discuss investment opportunities at SCZone

Investment Minister Sahar Nasr - currently in Germany as part of an Egyptian delegation led by President Abdel Fattah El Sisi - met Tuesday with Joe Kaeser, CEO of Siemens AG, to discuss investments at the Suez Canal Economic Zone (SCZone). 

Attending the meeting was also chairman of the Suez Canal Authority (SCA) Mohab Mamish. 

Nasr and Mamish praised cooperation between their country and Siemens, especially where energy projects are concerned. They believe cooperation with Siemens could serve as a role model for government-private sector partnership. 

The meeting took up projects to establish a training center at the SCZone and upgrade the transport sector in Egypt, Nasr said in a statement.

Cairo is seeking to benefit from Germany's technical know-how, Nasr said, adding that she greatly appreciates German companies' keenness on doing business in Egypt.

She touched upon big investment opportunities in Egypt, particularly as part of the Suez Canal Corridor project.

Egypt is an open market to investors, who wish to pump money into all mega projects, the minister noted. 

Mamish talked about policies adopted at the SCZone to encourage businessmen to invest in that development project. 

Kaeser told Nasr and Mamish his company is keen on expanding its activities in Egypt in the coming stage. 

Siemens is willing to engage in new projects in Egypt and increase training programs in the Arab country in a way that would serve Cairo's vision to achieve sustainable development, Kaeser said.