21 Jun 2021

The head of the Saudi Egyptian Business Council said that he expects Saudi Arabia to invest USD20bn in Egypt over the coming 5 years. He stated that there are 6,280 Saudi companies currently registered and operating in Egypt with investments of over USD30bn.

His comments follow the conclusion of last week’s sessions for the joint Saudi Egyptian Committee, which was headed by the Saudi Minister of Trade and included Saudi ministers and high-ranking officials. They met with the Minister of Planning and Economic Development, the Minister of the Public Enterprises Sector, and other high-ranking Egyptian officials. (Source: Enterprise (English), al-Arabiya, Akhbar al-Youm)