Al-Qasabi confirmed that the agreement will contribute to increasing investment rates and exchange experiences.
Egypt and Saudi Arabia plan to sign the agreement to protect and encourage joint investments, said Saudi Arabian Minister of Commerce, Majid bin Abdullah Al-Qasabi during the meeting of Egyptian Prime Minister, Mostafa Madbouly, with the Saudi private sector in Riyadh.
Al-Qasabi confirmed that the agreement will contribute to increasing investment rates and exchange experiences.
The economic relations between Egypt and Saudi Arabia have recently reached the level of a strategic partnership through the conclusion of a number of economic agreements and memorandums of understanding, Federation of Saudi Chambers Chairman, Hassan Alhwaizy, confirmed.
Alhwaizy added that Saudi private sector and business owners are looking forward to exploring the latest developments in the most important investment opportunities in the Egyptian market.
Prime Minister Mostafa Madbouly, along with Egypt’s ministers of finance and foreign trade, arrived at the Saudi capital on Saturday to meet with several key Saudi figures in a series of high-level discussions aimed at enhancing bilateral investment relations.
On his first day in Riyadh, the PM met with Khalid Al-Falih, the Saudi Minister of Investment, to discuss enhancing investment opportunities and addressing mutual economic interests, as well as progress on new bilateral investment agreements.
During the meeting, Madbouly underscored the expansive investment partnership between Egypt and Saudi Arabia, emphasizing its role in delivering substantial economic benefits to both countries.
