Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt, Saudi Arabia Discuss Investment Opportunities, Industrial Integration

Mon 05 Jun 2023 | 05:16 AM
Taarek Refaat

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef met Sunday with his Egyptian counterpart, Ahmed Samir Saleh, during his official visit to Egypt.

During the meeting, they discussed ways to enhance bilateral cooperation between the two countries to develop the industrial sector, in addition to reviewing cooperation opportunities between the Kingdom and Egypt, and qualitative investment opportunities provided by the national strategy for industry.

They also discussed industrial integration between the two countries, increasing opportunities for raising trade exchange, and stimulating access to industrial exports.

The Saudi embassy indicated that the volume of non-oil Saudi exports to Egypt during the year 2022 amounted to more than 11 billion riyals, while the volume of imports amounted to 10 billion riyals.

The meeting comes as part of the Kingdom's efforts and endeavors to enhance the role of the industrial and mining sectors, and open opportunities for investors from all over the world, in addition to reviewing qualitative investment opportunities in the industrial and mining sectors, and highlighting the Kingdom's initiatives to advance the two strategic sectors.

It is noteworthy that the visit of the Egyptian Minister of Trade and Industry includes a meeting with a number of government officials, in addition to holding meetings with investors in the industrial and mining sectors, and field visits to a number of companies and factories.