Saudi Minister of Investment: Egypt's Market is Promising for Investment

Dr. Mostafa Madbouly, Prime Minister, held a meeting today at the government headquarters in New Alamein City with Eng. Khalid Al-Falih, Saudi Minister of Investment, and his accompanying delegation to discuss areas of joint cooperation between the two countries.

The Prime Minister welcomed the Saudi Minister of Investment, the Saudi Ambassador to Cairo, and their accompanying delegation to their second country, Egypt, stressing the depth of the strategic relations between Egypt and the Kingdom of Saudi Arabia.

Madbouly said: "We are keen as a government to push bilateral relations between the two countries in all fields to higher levels, stressing that cooperation to increase joint investments is a priority for the two countries."

Khalid Al-Falih, Saudi Minister of Investment, confirmed that the governments of Saudi Arabia and Egypt seek to raise the level of relations between the two countries in all fields.

Regarding Saudi investments in Egypt, Al-Falih said that the Kingdom is the largest investor in Egypt, adding: "I will work in cooperation with my colleague, the Egyptian Minister of Investment, to give these investments a greater opportunity to double them, and encourage Saudi investors to expand their existing investments."

The minister continued: "I have already met with Saudi investors in Egypt, to work on this, and I confirm that we have a tendency to increase the investments of the Saudi Public Investment Fund in Egypt, and we also have a tendency to convert our deposits in Egypt into investments."

The Saudi Minister of Investment added: "We view Egypt as a complement to the Kingdom, and also as a promising market, and an important platform for exporting to countries in the region," noting that all these factors make us work to increase our investments in Egypt