Egypt's Deputy Prime Minister for Economic Affairs, Hussein Eissa, held two separate meetings at the government headquarters in the New Administrative Capital with the ambassadors of Germany and India to discuss strengthening economic and development cooperation. The discussion with the German ambassador focused on the long-standing partnership in sectors such as energy and water, while the meeting with the Indian ambassador highlighted historical ties and investment opportunities following Egypt's accession to BRICS.
Egypt's Deputy Prime Minister for Economic Affairs, Hussein Eissa, met with Jürgen Schulz, Germany's ambassador to Cairo, at the government headquarters in the New Administrative Capital. Eissa expressed appreciation for the long-standing development partnership with Germany, one of Egypt's largest European partners. The current cooperation portfolio covers key sectors including energy, water, sanitation, irrigation, solid waste management, and enhancing private sector competitiveness.
Eissa reviewed the 'Invest for Jobs' initiative implemented by the KfW Development Bank, which offers grants to support investment projects through a competitive mechanism aimed at creating employment opportunities. Potential sectors for the initiative include construction and related industries, metal and electrical manufacturing, education and social services, food industries, transportation and logistics, information technology, and the hospitality sector.
The meeting also addressed the Egyptian-German debt swap programme, described by Eissa as an innovative mechanism supporting Egypt's green transition. He noted the possibility of launching additional phases targeting improved energy efficiency in the industrial sector, green hydrogen projects, and technical education. Both sides emphasized the importance of continuing to strengthen economic and development cooperation to support sustainable development, increased investment, and job creation.
In a separate meeting with Suresh K. Reddy, India's ambassador to Egypt, Eissa highlighted the deep historical ties between the two countries and the steady progress in bilateral relations, particularly in economic, trade, and investment fields. He reaffirmed the Egyptian government's commitment to expanding cooperation and opening new avenues for partnership, especially in light of Egypt's promising investment opportunities.
Eissa stressed Egypt's interest in strengthening cooperation within the strategic partnership framework, particularly following Egypt's accession to BRICS, which provides additional opportunities for economic and development collaboration. He reviewed the government's ongoing restructuring of economic authorities and state-owned companies, as well as its asset offering programme aimed at maximising the value of state assets and attracting local and foreign investment.
The programme includes offering stakes in major institutions and companies across sectors such as banking and financial services, energy, infrastructure, logistics, insurance, and pharmaceuticals. Eissa invited Indian companies to participate through public offerings or strategic partnerships, noting promising opportunities for international investors to enter the Egyptian market.
The discussions also covered prospects for expanding cooperation in emerging fields like innovation, technology, and digital transformation, in addition to supporting startups and strengthening collaboration between innovation ecosystems in both countries. The two sides explored ways to encourage greater Indian direct investment in Egypt, particularly in the Suez Canal Economic Zone.
Eissa praised the existing cooperation in capacity building through the Indian Technical and Economic Cooperation Programme (ITEC), which has trained a large number of Egyptian professionals, and welcomed the recent increase in training scholarships allocated to Egypt. He expressed Egypt's interest in expanding this cooperation through more specialised training programmes, joint workshops, and opportunities for postgraduate scholarships at Indian universities to support knowledge exchange and institutional capacity building.
