The growing number of development projects and an improved investment environment has encouraged French multinational corporation Schneider Electric to pump new investments into Egypt, said Luke Remont, executive vice president of international operations at the company.
“We are planning to double the production capacity at our factory in Egypt by June 2019,” Remont said today during a press conference in Cairo.
Remont also said that the Egyptian market is a strategic one for SE because of its capacity and potential to grow faster than any other market in the region, as well as the access it provides to other countries through free trade agreements.
“Thanks to the government’s national development plan, Egypt is offering many investment opportunities in major projects, and SE wishes to scale up its investments in the country,” Remont said, adding that the main fields of cooperation include renewable energy, smart cities and sea water desalination.
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