In Cairo today, the Egyptian Prime Minister Dr. Mostafa Madbouly met with Saudi Assistant Minister of Investment and head of the Saudi Investment Marketing Authority, Ibrahim bin Youssef Al-Mubarak, as well as the Saudi Ambassador to Egypt Saleh bin Eid Al-Husseini, the head of the Saudi Chambers of Commerce Hassan bin Muajab Al-Huwaizi, the head of the Saudi-Egyptian Business Council, Bandar bin Mohammed Al-Amri, and several Saudi businessmen.
During the meeting, Dr. Madbouly expressed his appreciation for the important participation of Saudi businessmen in the Saudi-Egyptian Businessmen Forum hosted in Cairo yesterday. He emphasized the commitment of both countries to deepen economic ties and the interest of his government in enhancing investment partnerships with Saudi Arabia. He highlighted the implementation of a mutual investment encouragement and protection agreement between the two countries as a new starting point for boosting economic cooperation and enhancing trade relations, especially in the private sector.
The Egyptian Prime Minister stressed the importance of cooperation and integration between Saudi Arabia and Egypt in establishing strategic and economic joint projects to leverage the comparative advantages of both countries in facing global challenges, achieving economic integration, and enhancing food security. He noted the significant increase in Egyptian companies operating in the Saudi market and vice versa, highlighting the confidence of the private sector in investing in both countries to achieve the desired integration goals in the economic sector.
Dr. Madbouly also presented the key investment opportunities in Egypt across various sectors. In response, the Saudi Assistant Minister of Investment stated that Egypt offers numerous investment opportunities in various sectors and witnessed a keen interest from Egyptian businessmen in investing in Saudi Arabia. He expressed his aspiration to enhance economic ties between the two sisterly countries, describing the Saudi and Egyptian economies as pillars of stability in the region.
Al-Mubarak emphasized the important opportunities for developing joint tourism programs between the two countries, providing diverse options for tourists to enhance their experience, create new cooperation opportunities, and achieve significant integration in this sector, thus strengthening bilateral relations. He emphasized the need to work towards industrial sector integration between the two countries, especially in light of ongoing trade developments internationally, reflecting the importance of cooperation in addressing common challenges.
The Saudi-Egyptian Investment Forum was held yesterday under the theme “Strategic Partnership for Development” to enhance economic cooperation, explore available investment opportunities, and was attended by officials, Saudi and Egyptian businessmen.
