Al Mashat receives Saudi amb. to discuss ways to strengthen economic relations

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, received H.E. Ambassador Saleh bin Eid Al-Hussaini, Ambassador of the Kingdom of Saudi Arabia to the Arab Republic of Egypt, to discuss ways to strengthen economic relations between the two countries and unlock new horizons within the framework of the priorities of the Egyptian government.

During the meeting, Al-Mashat pointed out the extent of the historical and close relations that link Egypt and Saudi Arabia, both at the level of the two leaderships or the two countries, stressing Egypt's commitment to develop the framework of cooperation in various fields.

H.E. pointed out the Egyptian government is keen to develop the investment environment and make way for the domestic and foreign private sector, which would increase investments, as empowering the private sector is a driver towards achieving sustainable growth in various sectors, and it also enhances the creation of job opportunities.

Al-Mashat thanked the Kingdom of Saudi Arabia, represented by the Saudi Fund for Development (SFD), for its distinguished role in supporting and financing development projects in Egypt in line with the Egyptian Government's development efforts and Egypt Vision 2030.

The Minister pointed out the role played by the Ministry of Planning, Economic Development and International Cooperation in developing economic cooperation relations with multilateral and bilateral development partners, mapping development financing with the SDGs, and the importance of international partnerships to achieve a sustainable economy based on enhancing the efficiency of resource use and building multilateral and bilateral partnerships.

Regarding the current cooperation portfolio with the Saudi Fund, H.E. Dr. Rania Al-Mashat pointed out the diversity of the cooperation portfolio with the SFD, and the diversity of projects that have been financed in various fields of development, including health, education, supply, irrigation, electricity, transportation, roads and bridges, agriculture, and housing, explaining that the Fund’s projects currently being implemented in the Arab Republic of Egypt are represented by ( Residential complexes and King Salman University projects (first phase - second phase) within the framework of the Sinai Peninsula Development Program - inauguration of horizontal silos for grain storage - development of Qasr Al-Aini Hospital - implementation of irrigation and drainage pumping stations - project to establish and equip basic healthcare units.)