Additionally, the importance of pumping new investments into several sectors was emphasized.
Prime Minister, Mostafa Madbouly, held a meeting with Saudi officials, to discuss ways of cooperation to increase Saudi Arabia’s investments in Egypt during the coming period.
During the meeting, it was affirmed that ongoing negotiations between relevant ministers and officials from Egypt and Saudi Arabia are underway to explore opportunities for expanding collaborative efforts across diverse economic sectors, official spokesman for the Cabinet stated, Mohamed El-Homsani.
Additionally, the importance of pumping new investments into several sectors was emphasized.
They also highlighted the potential for capitalizing on the available opportunities within the Egyptian market.
It was emphasized that the Egyptian government has implemented numerous measures to address various challenges and obstacles related to foreign direct investments.
Earlier in November 2023, the Second Vice Chairman of the Federation of Saudi Chambers, Fayez Alharbi said that Saudi Arabia is actively pursuing the goal of enhancing bilateral trade with Egypt to reach $100 billion.
The Ministry of Planning and Economic Development reported that the volume of trade exchange between Egypt and Saudi Arabia reached $32 billion in FY2022-2023.
