GAFI chief: Egypt seeks to turn partnership with Italy into joint projects, investments

Egypt's GAFI chief Mohamed Awad revealed the country's ambition to transform its strategic partnership with Italy into collaborative initiatives, investments, and commercial ties. Addressing the Egypt-Italy Business Forum's concluding session, Awad emphasized the potential for enhanced economic cooperation, with both nations aiming to bolster mutual interests.

The forum served as a platform for government officials and business leaders to explore avenues for deepening economic, investment, and trade relations. Awad highlighted Egypt's commitment to fostering a more competitive investment environment, streamlining bureaucratic processes, and bolstering its capacity to attract profitable investments.

This strategy seeks to bolster manufacturing output and boost exports to regional and global markets. Italy's investments in Egypt, totaling around €5.9 billion in 2025, were significant, with over 1,400 Italian companies actively participating in joint ventures since fiscal year 2004/05. Awad stressed the crucial role of Italy's institutional and financial entities, such as the CDP, SACE, SIMEST, and ICE, in facilitating investment opportunities through financing, guarantees, and promotion mechanisms.

A cooperation protocol between GAFI and Bank of Alexandria, a subsidiary of Italy's Intesa Sanpaolo Group, was signed, targeting support for investment, additional services, and operational facilitation for investors. The talks also delved into expanding port cooperation between Egypt and Italy, enhancing transit routes between Europe and the Gulf region, and leveraging Egypt's strategic position to bolster regional and international trade.