Italy, Egypt sign €45 mln agreement to support private sector

Egypt’s Investment Minister, Sahar Nasr,  has signed an agreement with the Italian Ambassador to Egypt Giampaolo Cantini an agreement to develop the private sector in Egypt worth €45 million.

The agreement was signed on the side lines of  Africa Forum 2018 held in Sharm El Sheikh with several African leaders attending.

The Minister said that Italy ranked that 11th among the countries investing in Egypt with total investments of $2.1 billion  by the end of September 2018, distributed over 1100 companies creating 30,000 job opportunities.

The agreement will contribute with supporting  the Egyptian private sector through training and technical support for small and medium enterprises, which will benefit the entrepreneurs and Egyptian institutions involved SMEs, it will also be directed part of the funding to provide components in the production process for some projects.

Egypt is hosting  today its annual international meeting in Sharm El-Sheikh with African and global political and business leaderships to push for a new intra-African comprehensive partnership.

Africa Forum, Egypt’s biggest international gathering, is placing this year place special focus on issues of concern to African youth and women empowerment. The first day’s events will feature a Young Entrepreneurs’ Day and a discussion on Women Empowering Africa.