President Abdel Fattah Al-Sisi affirmed Egypt’s appreciation of its long-standing historical relations with Italy and its keenness to develop them in various areas of bilateral cooperation,
In this regard, he pointed to Egypt’s interest in attracting the investment of major Italian companies in the mining and manufacturing sector. This is with the aim of increasing industrial value added, localizing industry and the transfer of knowledge and technology, and building Egyptian capacity in these more developed industries, in a way that offers broad prospects for the national economy to provide more distinguished employment opportunities and increase production and exports to various countries of the world.
This came during a meeting Tuesday between President Al-Sisi and a number of heads of Italian mining companies, namely Burton and Bernhard Schulte Shipmanagement (BSM).
The meeting was attended by Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Tarek Al Molla, Armed Forces Finance Authority Chairperson Ahmed Al Shazly, Director General of the National Service Projects Organization Walid Abu Al Magd, President of the Egyptian Company for Mining and Quarry Management Sharif Al Gharib, and Italian ambassador in Cairo Michele Quaroni.
Presidential Spokesperson Ahmed Fahmy said that the meeting reviewed the prospects of cooperation with Italian companies to optimize the use of mineral resources in Egypt, in light of the great success of the model of industrial cooperation between Egypt and Italy in the project of the quartz factory complex in Ain Sokhna, which was inaugurated by the President last May.
During the meeting; Officials of Italian companies expressed their aspiration to intensify work towards deepening cooperation with Egypt, noting that the close monitoring by the President of efforts to promote private investment reflects the keenness of the state to achieve a real leap in this area.
They also pledged to strengthen fruitful co-operation with Egypt in the field of mining activities, especially in view of the country’s potential wealth of mineral ores, and to take advantage of the attractive investment climate in Egypt’s mining sector.