Italian Investment Wave Approaching Egypt

Date: 2 April 2013
Source: Glass World 2013
The International Business and Investment association "IBIA" is working on transferring the Italian factories to Egypt with the first part of this year.

Ahmed Galal " President of IBIA" had spoken to "Al- Ahram" newspaper stating that he had suggested to the Italian investors to transfer their factories to Egypt in cooperation with the Egyptian investors which will definitely include transferring the equipment and technology used in these factories.And that will be of a bullish leap in the Egyptian industry.

Adding that an intensive training will be provided to the Egyptian labor who will work in these factories which will impact their productive abilities and skills which will open new channels for exporting.

Galal's assuring that deals had been signed already in some fields. This initiative will make a significant and remarkable leap for the Italian investment in Egypt which had reached 2.6 billion dollar throughout 820 companies.

Ending his article on confirming that investing in Egypt will be of a great opportunity for opening new channels and links with the Italian side in particular and the EU in general. What will also reinforce this cooperation is the strategic location of Egypt among its neighboring countries, pointing out that Egypt is a pivotal state for various markets.

Democratic transformation in Egypt and the national consensus will speed up this cooperation, we are on the right path and moving ahead despite what is witnessed on scene.

600450 Italian Investment Wave Approaching Egypt glassonweb.com

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