Deputy Prime Minister Meets Intesa Sanpaolo Delegation to Discuss Expanding Cooperation

Egypt is looking to deepen its economic partnership with Italy and attract more investment from Intesa Sanpaolo, one of Italy's largest banking groups and a leading financial institution in Europe.

Deputy Prime Minister for Economic Affairs Hussein Issa received the group's delegation in the presence of Investment and Foreign Trade Minister Mohamed Farid and Finance Minister Ahmed Kouchouk, who joined by videoconference. The delegation included Paola Papanikolaou, head of international banking at Intesa Sanpaolo; Paolo Vivona, chief executive and managing director of the group's Bank of Alexandria; and Ziad Bahaa El-Din, a former deputy prime minister and non-executive chairman of Bank of Alexandria.

Issa welcomed the delegation and highlighted the longstanding ties between Egypt and Italy. He said the Egyptian government wanted to expand bilateral trade and investment cooperation across several sectors. Egypt, he added, offered a strategic location and a promising market, as well as a key gateway to Arab and African markets.

The Egyptian side also stressed its readiness to provide support and facilities to foreign investors. It said it would continue efforts to make the investment environment more competitive and attractive, in line with international best practices and with the aim of strengthening confidence among major global financial institutions.

The Intesa Sanpaolo representatives said the group was increasingly interested in the Egyptian market and wanted to expand there, particularly amid the economic reforms being implemented by the state. They described Egypt as a strategic market and a central platform for stronger economic cooperation between Italy, Africa and the Middle East. Both sides agreed to explore ways to support their existing partnership and broaden banking and financial cooperation.