The signing took place on Tuesday and underscores both countries' commitment to enhancing trade and investment cooperation, especially as Egypt seeks to address its ongoing economic challenges.
Investment agreements between Saudi Arabia and Egypt private sectors are expected to inject $15 billion into the Egyptian economy, revealed Bandar al-Ameri, head of the Saudi-Egyptian Business Council, during an interview with Al-Arabiya TV on Wednesday.
His comments follow a recent meeting in Cairo where President Abdel Fattah El-Sisi and Saudi Crown Prince Mohammed bin Salman signed off on the creation of the Supreme Egyptian-Saudi Coordination Council along with an agreement to encourage and protect mutual investments between the two countries.
The signing took place on Tuesday and underscores both countries' commitment to enhancing trade and investment cooperation, especially as Egypt seeks to address its ongoing economic challenges.
Al-Ameri highlighted that the investment deals will focus on various sectors, including renewable energy, industry, real estate development, tourism, and technology.
He noted that these agreements were contingent on the establishment of the investment protection accord signed between the two countries.
