During a visit to Saudi Arabia, Prime Minister Mostafa Madbouly and key Egyptian ministers met with prominent Saudi officials to bolster bilateral investment ties. The discussions aimed at enhancing investment opportunities and addressing mutual economic interests.
Madbouly and his delegation, including the Ministers of Finance and Investment, met with Saudi Minister of Investment, Khalid Al-Falih. They focused on the expansive investment partnership between the two nations and the progress on new bilateral agreements.
Madbouly emphasized the fruitful collaboration, stating that the new agreement would offer additional assurances and incentives for investors. Al-Falih highlighted the importance of increasing joint investments and acknowledged significant progress made on the investment agreement.
The meeting included high-level representatives from both countries, such as Egypt’s Ambassador to Riyadh and the Saudi Ambassador to Egypt. They discussed ways to enhance investor confidence and capital inflow into various projects.
Al-Falih praised Egypt’s efforts to address issues faced by Saudi investors and noted Egypt’s position among the top destinations for Saudi investments. He also mentioned the potential for future investments, including converting Saudi deposits into investments through the Saudi Public Investment Fund.
Madbouly reiterated Egypt’s commitment to increasing Saudi investments and providing support to resolve any investor issues. Al-Falih expressed optimism about the Egyptian government’s approach and the anticipated ratification of the investment agreement, which is expected to boost joint investments further.
Arrangements were made for the Prime Minister and his delegation to meet with Saudi investors, aiming to strengthen economic ties between the two countries.