Italian firms intend to pump more investments in Egypt – official

A number of Italian companies are seeking to pump more investments in Egypt, said President of the Italian Confederation for Economic Development Jose Romano on Wednesday.

At a meeting with Prime Minister Moustafa Madbouly, he added that this stance by the Italian companies is due to the stability that Egypt enjoys along with investment incentives offered by the Egyptian government.

The Italian side is interested in developing economic zones in Egypt, he said, pointing out that he will contact specialized companies in his country to offer their know-how in this regard.

Meanwhile, Madbouly  lauded relations between Egypt and Italy confirming that President Abdel Fattah al-Sisi has issued directives to enhance joint economic cooperation.

Trade exchange between the two countries hit seven billion dollars, he said, noting that Italy is the fifth largest foreign investor in Egypt.

Attending the meeting were Minister of Supply and Internal Trade Ali Moselhi and the Italian ambassador here.

Moselhi said meetings with the Italian delegation will continue until Friday for reaching agreements on joint cooperation.

Source: MENA