European Commission President Ursula von der Leyen will travel to Cairo on Sunday to join Egyptian President Abdul Fattah El-Sisi at the EU-Egypt Investment Conference. The event, taking place on June 29-30, marks a key milestone in the Strategic and Comprehensive Partnership established in March 2024.
The partnership focuses on political relations, economic stability, investments and trade, migration, security, demography, and human capital. This first joint conference will gather around 1,000 participants, including ministers, senior officials, European financial institutions, and CEOs from diverse sectors in both the EU and Egypt.
European Commission Executive Vice-President Valdis Dombrovskis will sign a memorandum of understanding for short-term macro-financial assistance up to 1 billion euros (USD 1.07 billion) to support Egypt’s economic reform program. This is part of the 7.4 billion euros (USD 7.9 billion) package announced by President von der Leyen in March to support the partnership.
The conference will feature numerous investment deals with European companies and bilateral cooperation agreements aimed at advancing employment, skill development, vaccine manufacturing, food security, and sustainable development.
Key sectors targeted for investment include renewable energy (with a focus on renewable hydrogen), the circular economy, manufacturing (pharmaceutical, medical, and automotive sectors), agriculture/food and water security, innovation, and digitalization. These sectors have been identified for their potential to contribute to Egypt’s sustainable development and economic diversification.
