Investments

According to recent GAFI Statistics, the total capital of projects including Italian investments in Egypt reached 2632.02 Million USD. The Italian participation in the capital is 1454.81 Million USD, in various sectors.

One prominent project was the purchase of 80% of the shares of the Bank of Alexandria by the Italian Intesa Sanpaolo Bank for 1.6 bn USD. The bank then focused on financing small and medium enterprises. Another investment was the purchase of the Suez Cement Company by Italcementi Group for 530 million dollars.

Simest Institution, affiliated to the Italian Ministry of Economic Development, is interested in sustaining Italian investments abroad specially in Egypt. The institute manages 19 projects in Egypt and had raised 20 million dollars as capital for 6 of them.

The total value of these projects are about 800 million euros and offer more than 7,000 jobs in the fields of iron and steel, rubber and plastic, textiles and clothing, tourism, hotels and services in addition to establishing a taxi company with a capital of 2 million euros.

Furthermore the institute has dispatched a technical mission to Egypt, to study means to transfer Italian technology to Egypt with a special focus on the fields of textiles and ready-made garments, leather and tanneries, furniture, food industries , packaging , construction and marble. This is supposed to take place within the framework of a strategy to establish semi-Italian industrial zones, and provide mechanisms for financing the private sector and sustaining cooperation in the fields of technology transfer and vocational training.

The aim of this institution is to establish a comprehensive industrial zone for a ‘textile cluster’ in the Borg El Arab district and to transfer Italian expertise and technology to improve the quality of the processed textiles. This is done with an eye to attracting Italian investments to this specific sector. The institution has also contributed to the founding of factories, in the same district, for the companies Albini and Lilmar.

 

 

 

 

 

 

 

 

 

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