Egyptian Prime Minister Dr. Mostafa Madbouly announced the finalization of the Saudi-Egyptian Investment Protection Agreement, set to be activated within two months. Remaining issues facing Saudi investors in Egypt are expected to be resolved by year-end.
During a meeting with the Saudi private sector in Riyadh, Madbouly reaffirmed Egypt’s commitment to supporting Saudi investments. A dedicated unit within Egypt’s Ministry of Investment will oversee these investments, with 90 out of 104 issues already resolved.
Ministers and officials from both public and private sectors attended the meeting. Madbouly highlighted Egypt’s reforms and incentives across various sectors, including real estate, industry, agriculture, tourism, and renewable energy, while managing financial policy challenges.
Minister of Commerce Majid Al-Qasabi emphasized efforts to improve the business environment between the two nations, noting that the investment agreement will strengthen economic ties. Minister of Investment Khalid Al-Falih praised the cooperation as a model for Arab economic growth, citing over SAR 124 billion in trade and 5,767 licenses granted to Egyptian investors in Saudi Arabia.
The meeting also focused on new developments in economic relations, exploring opportunities for integration and cooperation in accessing African markets and various investment sectors.
Earlier, Madbouly met with Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef to discuss boosting cooperation in the industrial and mining sectors. They explored solutions to maximize benefits and strategies to support private sector investment in strategic areas, including food industries, contributing to food security in both countries.