Tendency of Italian companies to invest in Egypt reflects confidence

The tendency of the Italian companies to pump investments in Egypt reflects their confidence in political stability and good investment climate in the Arab country, Egypt's ambassador in Rome said Thursday.

During a meeting grouping Prime Minister Ibrahim Mahlab and the Egyptian community in Italy, Amr Helmi said the picture of Egypt in Europe has better changed since June 30 Revolution, after widespread concerns on Egypt before that.

Helmi said Cairo managed to change its political and economic identities after the revolution, adding that Egypt made a profound progress after the uprising.

On Wednesday, Mahlab arrived in Italy on a three-day official visit for boosting bilateral ties.

The premier will sign a number of memoranda of understanding between the two countries in the fields of energy, oil and electricity as well as establishing a technological center to serve furniture manufacture in the new industrial zone in Damietta city.