RIYADH, Saudi Arabia: Saudi Minister of Commerce, Dr. Majed Al-Qasabi, announced that an agreement to encourage and protect Saudi investments in Egypt will soon be signed, signaling stronger economic cooperation between the two nations.
The announcement came during a meeting of Saudi and Egyptian officials and investors, organized by the Federation of Saudi Chambers of Commerce, in honor of the Egyptian Prime Minister Dr. Mostafa Madbouly’s visit to Saudi Arabia.
Al-Qasabi highlighted ongoing efforts to enhance the business environment and attract investments between the two countries. He emphasized that the forthcoming Saudi-Egyptian Investment Protection Agreement would be a major boost to economic relations. Egyptian Prime Minister Madbouly confirmed the agreement will be finalized within two months and committed to resolving remaining challenges faced by Saudi investors by the end of the year.
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Madbouly revealed that Egypt has resolved 90 issues affecting Saudi investors and will continue addressing the remaining 14 through unconventional means. He also emphasized Egypt’s recent economic reforms, offering investment incentives in key sectors like real estate, industry, agriculture, tourism, and renewable energy. These reforms are aimed at stabilizing fiscal policies and strengthening the Egyptian pound’s exchange rate.
This new agreement and investment-friendly policies highlight the growing economic partnership between Saudi Arabia and Egypt, fostering mutual growth and development.
