The King highlights the role of Spanish companies in Egypt’s “megaprojects”

Eduardo González This Thursday in Cairo, King Felipe VI highlighted the active participation of Spanish companies in "megaprojects" being implemented by the Egyptian government "in key sectors" of its economy and encouraged "promoting joint projects" between the two countries in the field of tourism. The third day of the King and Queen's state visit to Egypt began with the Monarch participating in a working breakfast with Egyptian and Spanish business leaders, which was attended by the Foreign Ministers of both countries and was followed by the inauguration of the Spain-Egypt business forum. During this event, the King recalled that there are currently more than sixty Spanish companies "established in this country, contributing their experience and professionalism to the development of our economic and trade relations" and whose presence "constitutes a decisive contribution, both in investment and in innovation and added value, in strategic sectors in which Spain is internationally recognized, especially in areas linked to sustainability and environmental protection, such as water, transportation, and energy." "Our companies are actively participating in the impressive progress Egypt is making through the implementation of megaprojects in these key sectors, with a direct impact on improving the quality of life of millions of citizens, an effort we are proud to be a part of," he continued. "They are present in emblematic projects such as the New Administrative Capital, the Ismailia Tunnel, the Cairo Metro, the high-speed rail network, the Benban solar park, water treatment plants, and the Grand Egyptian Museum, the country's new cultural and tourist landmark," he added. The King also highlighted the participation of Spanish and Egyptian companies "with cutting-edge technology in lighting, security, and heritage protection and conservation" in the project to protect Egypt's main archaeological sites, which "has been completed through a Spanish donation." "Spain, as you know, has extensive experience in the tourism sector. Competitive, sustainable, and innovative tourism has made us one of the world's leading destinations, with 94 million visitors by 2024," he stated. "There are clear opportunities to promote joint projects in areas such as heritage management, cultural and health tourism, vocational training, the digitalization of the sector, technology adapted to tourism, and tourism infrastructure," he emphasized. Albares For his part, the Minister of Foreign Affairs, José Manuel Albares, emphasized that the economic relationship between the two countries "is significant, but still needs to be further developed." "Spain can contribute to Egypt's development in strategic areas: renewable energy (Acciona, Siemens Gamesa, and TSK have already made their mark); rail transport, with projects by Talgo and CAF; water management, where Aqualia and Acciona Agua are leading innovative solutions; and healthcare, with benchmark investments such as the Grifols plasma plant," he explained. "Spanish companies are always reliable partners, capable of generating sustainable value and supporting Egypt's priorities," he asserted. "Today, we have strategic projects that shape our common agenda," Albares continued. “Navantia's offer of S-80 submarines represents not only a significant commercial opportunity, but also a symbol of mutual trust in defense cooperation. Indra, with its technological expertise, is ready to support this effort with cutting-edge systems, from the Cairo metro to airborne radars. And Airbus, with the conversion of A-330 aircraft into transport and refueling tankers, can provide essential solutions for the modernization of the Egyptian Air Force,” he recalled. This cooperation, he asserted, “is part of a solid institutional framework.” “From our Agreement on the Promotion and Reciprocal Protection of Investments, in force since 1994, to the 2008 Treaty of Cooperation and Friendship, the most recent joint declarations of 2021, and of course the Strategic Partnership, Spain and Egypt have been able to create a framework of trust and legal stability that fosters the growth of our relations,” the minister emphasized. “In a context of global uncertainty, Spain values Egypt's efforts to advance economic reforms that will consolidate stability and attract investment. Our country wants to be part of this process, contributing companies, technology, and financing,” Albares stated. “The economic relationship between Spain and Egypt has a solid foundation, but our potential is much greater. We want to promote more balanced, diversified, and sustainable trade, which benefits both our companies and Egypt's development,” he added.

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