Deputy Minister Kamali Explores Rail Industry Collaboration with ETF VINCI at Egypt-EU Investment Conference

Dr. Ahmed Kamali, Deputy Minister of Planning and Economic Development, met with representatives of the French company ETF VINCI, specializing in the development, construction, and maintenance of railway infrastructure. This meeting took place on the sidelines of his participation in the Egypt-EU investment conference held on June 29-30, 2024, under the theme "Unleashing Egyptian Potential in a Rapidly Changing World," under the auspices of President Abdel Fattah El-Sisi, President of the Republic, and in the presence of Ursula von der Leyen, President of the European Commission, and Prime Minister Dr. Mostafa Madbouly.

Also present at the meeting were Wael Ziyada, Assistant Minister of Planning and Economic Development for Economic Affairs and Investment, Fabrice Georget, Chairman of the Board of Directors of ETF VINCI, and Mako Tourstan, the company's International Director.

During the meeting, Dr. Ahmed Kamali praised the longstanding partnership between Egypt and France, emphasizing Egypt's interest in deepening the railway transport industry as a profitable sector for both Egypt and France. He underscored the importance of localizing these industries, given Egypt's market size and its access to external markets, especially in Africa and the Middle East.

Kamali highlighted Egypt's commitment to localizing these industries, aiming not only to rely on imports but also to establish domestic production to benefit Egypt. Regarding the Fourth Metro Line project, Kamali expressed Egypt's keenness to complete its construction as a significant mass transit project that contributes to reducing emissions as a green mode of transport.

Kamali attributed the current postponement of the Fourth Line project to Egypt's focus on overcoming economic challenges, reducing external debt burdens, and enhancing infrastructure, including green mass transit.

Regarding logistics and dry ports in Tenth of Ramadan and October 6th, Dr. Ahmed Kamali clarified that logistics is one of the sectors contributing to Egypt's economic momentum, prioritized by the state within the economic reform program. He affirmed the continuous commitment to various infrastructure projects.

Concluding his remarks, Kamali discussed financing tools and mechanisms, emphasizing the necessity of financing through partnerships with the private sector.