Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, on Thursday said that Egypt’s macroeconomic indicators remain stable despite current challenges, stressing the country’s commitment to deepening its investment partnership with Italy.
Minister Farid made the remarks during a meeting he convened with the Italian Ambassador to Egypt, Agostino Palese, to discuss increasing Italian investment flows, strengthening economic co-operation and supporting the expansion of Italian companies in the Egyptian market.
The meeting also reviewed promising investment opportunities in renewable energy, agricultural manufacturing, healthcare, textiles and food processing.
During the meeting, the minister stressed the ministry’s focus on empowering the private sector and facilitating the business environment to enhance Egypt’s attractiveness to foreign investors.
He noted that Egypt offers several investment systems under the law that provide integrated services and streamline procedures, while dedicated investment zones could be allocated to Italian companies if sufficient demand emerges.
The meeting featured a review of the progress of Italian investments in Egypt, including Universe Calzedonia, which is establishing new factories in Sadat City and Helwan and seeking the Golden Licence.
In this respect, Minister Farid stressed the importance of developing, in co-operation with the Italian side, a comprehensive database of Italian investments in Egypt, particularly foreign direct investment data, to provide a more accurate picture of the scale and growth of bilateral investment.
For his part, the Italian ambassador said Italian companies view Egypt as a promising investment market and a key destination for expansion.
Palese highlighted efforts to encourage more Italian companies to explore opportunities and expand in Egypt, while affirming the Embassy’s readiness to co-operate in compiling accurate investment and project data.
