During the Egyptian-Saudi Investment Forum, Egypt and Saudi Arabia formalized four major investment agreements across various sectors, as reported by the General Authority for Investment and Free Zones (GAFI).
The agreements span areas such as investment promotion, food industries, solar energy, metal industries, and real estate development.
The first agreement was signed by Ahmed Samida of Business City Group and Hind Al-Aouni of GCC Capital Partners Saudi Arabia, aiming to attract foreign investment into Egypt in sectors like poultry farming, food processing, agriculture, education, residential projects, and exports.
In the second agreement, Fayyad Al-Anzi of Saudi Asascom Holding Group and Osama Hanafi of Alkotec Engineering Industries plan to build a factory for aluminum cladding panels with a 10,000 square meter space and a production capacity of 3.6 million meters annually.
For the energy sector, Mohamed Kamal El-Din Othman of Nanovolt and Amash Al-Dafeen Al-Subaie of Al-Yusr Leasing and Finance Company agreed to collaborate on marketing and installing solar panels in both countries.
The final agreement involves Abdullah bin Obaid Al-Ajmi of Yafel Development and Omar Abdel-Hay of Horizon Capital, focusing on managing and expanding Yafel’s real estate operations.
The forum also included business meetings between Egyptian and Saudi leaders to discuss future partnerships.