Sherif Ismail Met The Italy Economic Delegation

Engineer Sherif Ismail, chairman of the Council of Ministers, met the Italy economic Delegation under the chairmanship of the Minister of economic development, the meeting was attended by Minister of Investment, Trade and Industry and the Italian ambassador in Cairo.

The prime minister had met the Italian minister before the meeting with the delegation; he welcomed the visit of the Italian delegation, confirming the distinguished relations of cooperation with the Italian side in various areas, which witnessed many positive developments during the last short period.

Ambassador Hussam Alkawesh the spokesman for the presidency of the Council of Ministers stated that the Prime Minister explained that there are many investment opportunities and capabilities to enhance cooperation between the two countries and supports the presence of Italian companies in the Egyptian market, especially in the special economic zones.

The prime minister noted during the meeting that the Government's efforts and actions to support and strengthen the Egyptian economy and attracting more foreign investments, and work to increase the foreign exchange through the increase of exports and the establishment of controls to regulate the importing of goods, as well as to support national industry, confirming the government's keenness on reimbursement of foreign companies in the oil sector on a regular basis.

The Italian economic development minister today praised on her meeting with president Abdul Fattah Al-sisi, on the development of the relations between the two countries in various fields, confirming the aspiration of the Italian Government to increase cooperation with Egypt during the coming period, and to increase the exchange of visits of delegations in political, and economic areas.

The minister explained that the delegation includes representatives of several leading Italian companies working in the various trade and economic sectors, and others wants to participate in the Egyptian market , indicating that the Italian companies is keen to strengthen its presence in the Egyptian market, and has great interest to intensify cooperation in the gas sector, and other sectors such as mining and infrastructure, transport, and to explore opportunities in Egypt to invest in various sectors, the opening of markets for export to Africa and other regions, and also stressed on the Italian keenness to participate in important projects, such as the city of Damietta furniture , Robeki leather, and that the Italian part is ready to provide concessional financing to those projects.

The spokesman said that during the meeting between the prime minister and his entourage Italian economic delegation they reviewed the advantages of investment in Egypt, and the efforts of the government in attracting more of it, and also addressed a number of projects of interest to the Italian side to participate in projects, such as the development of the Suez Canal, Golden Triangle, projects of raising the efficiency of infrastructure and the development of networks of electricity generation, mining, fish farms, garment manufacturing, cement and automobiles, and small and medium-sized industries, also discussed a number of challenges facing some Italian investments in Egypt and ways to overcome them.