$ 2bln Italian Investments in Egyptian Tourism Sector

Antonio Badiney, CEO of Egyptian-Italian Friendship and Cooperation Society, said 6 of the Italian investors plan to pump $ 2 billion in tourism projects in Egypt during the coming period as a part of the proposed plans to expand the capitals between the two countries.

Answering “Amwal Al Ghad”’s question, Badiney added that after acquainting the Egyptian side situation from letting the Italian investors to get new facilities for possessing lands, the minister of tourism Mounir Fakhry will determine the exact time of starting these investments.

He explained that the Egyptian side is acting seriously toward this investment initiative and the minster’s promises to discuss these facilities through submitting a bill to the legislative authority.

According to Italian sources, Italy is a strong partner to Egypt especially in tourism sector; whereas almost 1.1 million tourists visit Egypt every year and  spend more than a week in the Egyptian hotels.