The growing number of development projects and an improved investment environment has ‎encouraged French multinational corporation Schneider Electric to pump new investments into Egypt, said Luke Remont, executive vice president of ‎international operations at the company.‎

‎“We are planning to double the production capacity at our factory in Egypt by June 2019,” Remont said today ‎during a press conference in Cairo. ‎

Remont also said that the Egyptian market is a strategic one for SE because of its capacity and potential ‎to grow faster than any other market in the region, as well as the access it provides to other countries ‎through free trade agreements.‎

‎“Thanks to the government’s national development plan, Egypt is offering many investment ‎opportunities in major projects, and SE wishes to scale up its investments in the country,” Remont ‎said, adding that the main fields of cooperation include renewable energy, smart cities and sea water ‎desalination.

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