German investments in Egypt hit $11 billion — GACIC

Emad Ghaly, head of the German-Arab Chamber of Industry and Commerce (GACIC), said Berlin is a major investment partner of Cairo in several projects, noting that Germany’s investments in Egypt are nearly $11 billion.

Ghaly made his statements on Saturday July 13, 2019 at the MEDITOUR 2019, the 8th Mediterranean Tourism Forum which is organized by the Association of Chamber of Commerce of the Mediterranean (ASCAME) in cooperation with GACIC in Alexandria city.

He stressed that the GACIC aims to attract further German investments in Egypt, particularly in the sector of tourism in light of infrastructure development and promising projects carried out by Egypt.

Ghaly added that German tourists constitute one-third of total numbers of tourists visiting Egypt yearly.

Source: State Information Service Egypt