The Egyptian-French Business Council expects French investments in Egypt to increase by 10% in 2017, Daily News Egypt wrote. According to a government’s statement, Egyptian President, Abdal Fattah Al-Sisi stated at a joint press conference that the bilateral talks addressed cooperation in the fields of traditional and renewable energy and transport under Egypt’s ambitious development plans.

As Fouad Younis, the Head of the Egyptian-French Business Council, added the Ministry of Electricity and the New and Renewable Energy Authority (NREA) are to be praised for overseeing the revision of the legislative process regulating the sale and purchase of facilities in the energy sector that will further enable French companies’ investments in the country.

France is the sixth largest investor in Egypt, after Saudi Arabia, Britain, the US, the UAE, and Belgium, Star Africa reported.