Egypt, Italy discuss boosting investment, aid programs

CAIRO – 30 October 2017: Egypt calls on Italian investors to increase their business after the government issued the New Investment Law, Minister of Investment Sahar Nasr said Monday.

In a meeting with new ambassador of Italy in Cairo, Giampaolo Cantini, Nasr said that the New Investment Law includes several incentives for foreign investors.

Reviewing the new law, Cantini discussed areas in which Italian investors can contribute to help Egypt achieve its economic reform.

During the meeting, Nasr and Cantini reviewed the Italian-Egyptian Debt for Development Swap Program, stating that the targeted fields are in education, health, technical and professional training, environment, antiquities, agriculture and irrigation sectors.

The pairs also discussed implementing a €2 million ($2.3 million) project of in-school snacks in the neediest areas in the country.

Egypt and Italy signed a debt swap program in 2001, under which Rome offers development aid and projects to the country.