Egypt, EU ink 29 agreements: Madbouly

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Egypt has signed a total of 29 agreements and memoranda of understanding (MoUs) worth €49 billion with the companies affiliated with the European Union (EU) during the Egypt-EU Investment Conference, Prime Minister Mostafa Madbouly stated.

Additionally, the North African country has sealed six agreements and MoUs valued at €18.7 billion with other European consortia and companies not affiliated with the EU or those with different nationalities, Madbouly highlighted.

These agreements were concluded either between the private sector and the Egyptian official authorities or at the private sector level, he added.

The agreements cover several sectors, including green hydrogen, electric vehicles (EVs), infrastructure, sustainable transport, and communications and information technology.

Madbouly pointed out that the state’s main focus for the coming period is to turn the signed agreements into actual projects, as the announced figures would help boost the Egyptian economy, attract more foreign direct investments (FDI), and create more job opportunities for the youth.