Egypt Daily News – More than 100 Saudi companies began a visit to Cairo today, aiming to explore opportunities for cooperation and establish partnerships across various sectors, with a focus on manufacturing, healthcare, and ports. The visit includes meetings with ministers and local companies as part of the “Egyptian-Saudi Business Forum.”
Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, stated during a dinner hosted by the Saudi Chambers of Commerce on Saturday that Egypt views the Saudi investor as “a key partner in all joint development projects” and is ready to enhance cooperation with Saudi Arabia to transport goods through its Red Sea ports to various African markets.
Bander Al-Amri: The path is clear for Saudi investments in Egypt
Bander bin Mohammed Al-Amri, head of the Saudi side of the Egyptian-Saudi Business Council, said in his remarks that more than 85% of the challenges facing Saudi investments in Egypt have been resolved, supported by the activation of the investment protection agreement between the two countries.
Egyptian companies to visit Saudi Arabia by the end of the month
Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development and Minister of Health and Population, highlighted plans to form partnerships in fields like manufacturing and healthcare. He stated, “We are expecting many partnerships with the Saudi side in the healthcare sector,” and noted that a delegation of Egyptian industrial companies will visit Saudi Arabia on April 28, 2025.
An investment opportunity bank for Egyptian tourism
Egypt’s Minister of Tourism and Antiquities, Sherif Fathy, revealed that an investment opportunity bank is being developed for the tourism sector, with a goal of granting investment approvals within two months. He emphasized that “this is the ideal time to enhance regional cooperation in tourism investments.”
Egypt and Saudi Arabia signed an investment protection agreement in October 2024 and announced the formation of a joint Egyptian-Saudi Higher Coordination Council during Crown Prince Mohammed bin Salman’s visit to Cairo—a step aimed at creating optimal conditions for investment exchange between the two countries.
$35 billion in Saudi investments in Egypt
Al-Amri noted that Saudi private sector companies currently have $35 billion in investments in Egypt, with 7,000 Saudi companies operating there. Around 700,000 Saudis also reside in the country. On the other hand, 5,000 Egyptian companies are investing and operating in Saudi Arabia.
The trade volume between Egypt and Saudi Arabia stands at $13 billion, according to Egyptian Minister of Agriculture and Land Reclamation Alaa Farouk. He added that Saudi Arabia receives over 9% of Egypt’s agricultural exports.
Saudi Ambassador to Egypt, Saleh bin Eid Al-Hussaini, noted that trade between the two countries grew by 36% over the past year, with Egyptian exports to the Kingdom increasing by 26%.
