Hungarian firms explore investment opportunities in Egypt's renewable energy sector

A number of Hungarian companies are exploring investment opportunities in Egypt’s renewable energy sector, particularly in solar energy projects, including electricity transmission systems and integration with the national grid, Economy Plus reported on February 26, quoting Mohamed El-Gosky, Chairman of the General Authority for Investment and Free Zones (GAFI). 

El-Gosky met with Rita Victoria Herentchar, the Hungarian Ambassador to Cairo, to discuss potential joint investment opportunities. They also reviewed the progress of Hungarian investments in Egypt and shared the intention to support strategic projects between the two countries.

El-Gosky noted that Hungarian investments in Egypt span various sectors, including tourism, industry, services, agriculture, construction, and information technology. He pointed out that the upcoming phase aims to attract more high-quality investments that will support technology transfer, deepen local manufacturing, and increase exports to regional and international markets.

He also pointed out the institutional cooperation between GAFI and the Hungarian export promotion agency, which enhances information exchange and supports the organisation of investment missions.

The meeting also focused on significant opportunities for cooperation between Egypt and Central European countries, particularly in sectors such as railways, agriculture, water resource management, water treatment and desalination plants, energy, and related industries.

Herentchar expressed Hungary’s interest in building effective partnerships with Egyptian entities to implement joint projects. She also acknowledged Egypt’s efforts to improve the investment climate, revealing that Hungarian companies are keen to expand their activities and explore new opportunities, especially in the renewable energy sector.