Cairo: Egypt's economic and investment ties with Italy have been described as 'deep-rooted,' with Italy being the fourth largest foreign investor in Egypt, according to Chairman of the General Authority for Investment and Free Zones (GAFI) Mohamed Awad.

According to State Information Service Egypt, Awad highlighted that Italian investment in Egypt is robust, with approximately 1,400 companies actively operating with Italian contributions. Awad made these remarks during an interview with Nile News TV channel, emphasizing the significance of Italian presence in the Egyptian market.

The Egyptian-Italian Business Forum has been identified as a pivotal event in enhancing the business relationship between the two nations. The forum serves as a platform for fostering stronger connections within the business communities of both countries and exploring new avenues for cooperation in vital economic and investment sectors.

Held on Friday, the forum aimed to bolster bilateral investment, augment trade, and create new opportunities for economic collaboration between Egypt and Italy.