Egypt in talks with Italy to benefit from soft loans

Egypt is coordinating with Italy to benefit from soft loans provided by Italy's Central Guarantee Fund for Small and Medium Enterprises, said Minister of Industry and Trade Mounir Fakhry Abdel Nour.

Such move will contribute to upgrading this vital sector, which represents more than 90% of the structure of the Egyptian economy, Abdel Nour said.

A number of Italian companies have voiced desire to invest in the Egyptian market, Abdel Nour said.

An Italian Company asked to establish the largest service center for the production of heavy equipment to serve the industries of iron and steel in the Middle East and Africa, he said.

This came during a series of meetings held on Friday morning with representatives of a number of Italian companies.

Abdel Nour said that the government is keen on removing all obstacles facing the flow of investments to Egypt.

He referred to recent measures taken by the government to facilitate investments.
Abdel Nour listened to problems facing a number of Italian factories, promising to resolve them all.

The Egyptian minister is set to tour the Egyptian pavilion at Expo exhibition, held in Milan.

He will meet a number of Italian officials tasked with organizing this international event.