"Egypt – THE country for foreign investors"

The German business magazine "Impulse" hosted an entrepreneurs' evening on the topic of "New Markets 2020 - Egypt" in conjunction with DEG, on 25 September in Cologne. German entrepreneurs who are already active in Egypt provided powerful insights into one of North Africa's most exciting markets of the future.

Egypt, with its large domestic market and well trained, young workforce offers good framework conditions and a wealth of potential, but it is also a country undergoing major changes. What does that mean for German SMEs in Egypt, or for those seeking to gain a foothold there?

Three German entrepreneurs were on hand to provide answers, including Harald Biederbick, Member of the Management Board of the film and nonwovens manufacturer, RKW SE. He described the setting up of production facilities in Egypt financed by DEG as a strategical step. Leoni, the Nuremberg-based automotive supplier and the Bavaria Brandschutz Industrie GmbH & Co. KG, have also recognised the huge potential there and have even extended their activities.

From the Egyptian side, Mohamed El Sawy, one of the most famous local entrepreneurs, took part. As managing partner of one of the largest advertising agencies, he is responsible for promotion of culture and sport, and was Minister of Culture for a short time, following the fall of Mubarak. In discussions with Dr. Nikolaus Förster, Editor-in-Chief of "Impulse", Bruno Wenn, Chairman of the Management Board of DEG, called on companies to establish relationships with Egypt and harness opportunities there: "Entrepreneurs are the drivers for change."

DEG has promoted the private sector in Egypt for more than 45 years. The company Sekem, which manufactures organic food and pharmaceutical products, with its approx. 2,000 employees, is a long-standing customer and cooperates closely with German companies.