The Italian Export Credit Agency (SACE) is looking to open an office in Egypt to be the agency’s centre in the Middle East and support Italian firms operating in the Arab world’s most populous country.
The agency’s Egypt portfolio amounts to around EUR 1.6 billion in the fields of energy, petrochemicals, infrastructure, and construction, the head of the institutional affairs at the SACE said on Monday.
This came on the sidelines of a meeting between Egyptian investment and international cooperation minister Sahar Nasr and the chairman of SIMEST and head of institutional affairs at the SACE during Nasr’s visit to the Italian capital, Rome.
SACE’s head of institutional affairs has praised the recent positive improvements in Egypt’s economy, including major projects that boost economic and social progress.
For her part, Nasr called Italian investors to raise investments and expansion in Egypt in light of the economic collaboration between both countries.