CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Awad said Egypt seeks to translate its strategic partnership with Italy into tangible joint projects, investments, and commercial and industrial partnerships, further strengthening economic ties and advancing the mutual interests of both countries. Awad made the remarks while representing Minister of Investment and … The post GAFI chief: Egypt seeks to turn partnership with Italy into joint projects, investments appeared f
CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Awad said Egypt seeks to translate its strategic partnership with Italy into tangible joint projects, investments, and commercial and industrial partnerships, further strengthening economic ties and advancing the mutual interests of both countries.
Awad made the remarks while representing Minister of Investment and Foreign Trade Mohamed Farid Saleh at the closing session of the Egypt-Italy Business Forum, which brought together government officials and business leaders from both countries to discuss ways to deepen economic, investment and trade cooperation and identify new partnership opportunities in priority sectors.
He said the forum underscores the depth of the strategic ties between Egypt and Italy and the significant potential for taking bilateral economic and investment cooperation to a more advanced level.Awad highlighted Egypt’s efforts to create a more competitive investment climate, streamline procedures and enhance its ability to attract productive investments.
These efforts aim to expand manufacturing and increase exports to regional and international markets, he said, noting that bilateral trade between Egypt and Italy reached around €5.9 billion in 2025.
Italy ranks fourth among foreign investors in Egypt in terms of cumulative investment, with Italian investments totaling around dlrs 23.4 billion from fiscal year 2004/05 through 2024/25, involving approximately 1,400 Italian companies and investment partnerships operating in Egypt, Awad said.
He stressed the importance of maximizing the benefits of Italy’s institutional and financial presence in Egypt, particularly the Italian Deposits and Loans Fund (CDP), the Italian Export Credit Agency (SACE), the Italian Society for the Internationalization of Companies (SIMEST), and the Italian Trade Agency (ICE) also known abroad as ITA.Awad said these institutions can help link investment opportunities with available financing, guarantees and investment-promotion mechanisms, thereby facilitating the implementation of joint projects.
The forum also witnessed the signing of a cooperation protocol between GAFI and Bank of Alexandria, owned by Italy’s Intesa Sanpaolo Group, aimed at supporting investment and providing additional services and solutions to facilitate investors’ operations.
Discussions also covered opportunities to enhance cooperation between Egyptian and Italian ports, increase transit traffic between Europe and Gulf countries, and capitalize on Egypt’s strategic location to support regional and international trade.
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