Italian Companies seek to invest in Egypt

CAIRO – 19 February 2019: A number of Italian companies expressed their desire to expand their investments in Egypt and to enter into new investment projects in the fields of renewable energy, transport and industry.

The Italian companies expressed their desire during several meetings held with Minister of Investment Sahar Nasr during her visit to Rome.

This desire came as a result to the recent legislative reforms which contributed to providing the suitable climate for investments in Egypt, as Egypt is a gateway to the African continent especially in light of its presidency of the African Union (AU), an official statement revealed.

The minister met Chairman of Italgen Giuseppe de Beni, where the company's investment in renewable energy was discussed. The minister welcomed the Italian company's desire to invest in new and renewable energy projects in Egypt.

She also referred to the coordination with the Ministry of Electricity to increase investments in this area in the context of the State's growing interest to exploit Egypt's huge resources and to produce electricity from renewable energy, diversifying sources of energy and ensuring sustainability.

The minister also discussed with Managing Director of Maccaferri Group Andrea Vinnytsia increasing the group's investments in Egypt in the field of infrastructure. Vinnytsia explained that the group is an Italian multisectoral group investing in renewable energy, environment, food and agriculture, and real estate, in about 100 countries.

In a similar vein, the minister stressed that the government encourages the private sector to inject new investments in the field of infrastructure as it is the cornerstone of development.

The minister met with Head of the Italian company Getra Marco Zigon, who explained his company's desire to increase its investments in Egypt through establishing partnerships with Egyptian energy companies.

She discussed with Giovanni Rocca, first vice-president of Ferrovie dello Stato Italiane, which is responsible for the operation of the Italian railway network, cooperating in investing in the development of the transport sector in Egypt.

Nasr clarified that the Egyptian government welcomes Italian firms, wishing to put their money into the country's renewable energy, transport and industrial projects.