Business Hub – Cairo:
Abdul Wahab for Saudi Investors: We are working to open new areas for mutual investments between the two countries
Counselor Mohamed Abdel Wahab met, CEO of the General Authority for Investment and Free Zones, With the delegation of the Saudi National Real Estate Committee, headed by Muhammad Abdullah Abdul Aziz Al-Murshed, Chairman of the Committee, In the presence of Eng. Tarek Shoukry, Head of the Real Estate Development Chamber, With the participation of representatives of 27 major Saudi companies in the field of real estate development, industry and agriculture, and building materials.
The meeting dealt with increasing Saudi investments in Egypt. and opening new areas for mutual investments between the two countries. In implementation of the assignments of Dr. Mostafa Madbouly, Prime Minister, Presenting investment opportunities to Saudi businessmen, The visit of the Saudi delegation follows the official visit of His Highness Prince Mohammed bin Salman. Crown Prince of Saudi Arabia, to Egypt, On the sidelines of it, 14 investment agreements were signed between the Egyptian and Saudi sides.
Abdel-Wahab stressed the importance of strengthening investment relations between the two countries, especially in light of the current period of providing unprecedented support to the private sector. Encouraging Arab and foreign companies to inject more investments into the Egyptian market. Including the construction sectors. Considering that it is one of the main pillars of the national projects being implemented, such as: Suez Canal Axis, fourth generation cities, such as the administrative capital, new Alamein, and others, Which aims to create smart cities based on electronic services and renewable energy, In addition to implementing a huge network of roads and bridges to connect national projects and new cities.
The meeting dealt with exchanging visions on enhancing joint cooperation by exploiting Egypt’s competitive advantages as an attractive destination for investment in the region. and review the investment opportunities available on the investment map, Especially in the national projects implemented by the Egyptian state. And the importance of strengthening economic cooperation between the two countries to rise to the level of historical ties between the two brotherly peoples, And the presence of various factors of joint economic integration.
Counselor Mohamed Abdel Wahab also stressed that the General Authority for Investment and Free Zones places at the top of its priorities the support of companies and investors to ionject more investments and overcome any challenges they may face. And that the authority seeks to attract more Saudi investments to Egypt by intensifying communication with major Saudi companies interested in available investment opportunities. And follow up the expansions of Saudi companies investing in Egypt. As well as introducing the business community in Saudi Arabia to the latest developments in the investment climate.
