During the meeting, Madbouly pointed out that the Egyptian government succeeded in solving 70% of the problems of Saudi investors.
Prime Minister, Mostafa Madbouly, met Saudi Minister of Investment, Khalid Al-Falih to discuss ways of joint cooperation and boost investments between the two countries.
During the meeting, Madbouly pointed out that the Egyptian government succeeded in solving 70% of the problems of Saudi investors.
Madbouly confirmed that the governments of Egypt and Saudi Arabia are working seriously during the current period to raise the rates of joint investments.
He stressed the Egyptian government's keenness to follow up on everything related to Saudi investments in Egypt, and to facilitate all procedures related to them, in a way that contributes to attracting more new investments.
The Prime Minister then moved on to talk about the agreement to protect and encourage mutual investments between the two countries.
He expressed his keenness to cooperate with the relevant ministers to quickly implement the agreement, which will contribute significantly to increasing joint investment rates between Egypt and Saudi Arabia.
Senior Director at the Public Investment Fund of Saudi Arabia (PIF), Muteb AlShathri, said that the fund’s companies have investments in Egypt amounting to about $3 billion.
Bandar Al-Amiri, the head of the Saudi-Egyptian Business Council, said that 500 Egyptian companies were operating in Saudi Arabia, and now the number of these companies has reached 4,000 companies.
Al-Amiri confirmed that Egyptian companies’ investments represented only 5 billion Saudi riyals, they jumped to 50 billion Saudi riyals now.
