Investment Min. Holds Talks With Saudi Officials To Promote Economic Cooperation

Egypt's Minister of Investment and Foreign Trade, Hassan Al-Khatib, has been in Saudi Arabia to promote economic cooperation between the two countries, as part of the delegation accompanying Prime Minister Dr. Moustafa Madbouli on his current visit to Saudi Arabia. During his visit, he met with Saudi Minister of Investment, Khalid Al-Falih, to discuss opportunities for joint investment cooperation. The aim of the meeting was to introduce investment opportunities in Egypt to Saudi officials. In addition, Al-Khatib held a meeting with Dr. Hisham El-Gehai, head of the Saudi Food and Drug Authority, to discuss a mutual accreditation mechanism for companies to facilitate trade between the two countries. They also discussed new procedures implemented by the Saudi Food Authority on Egyptian meat exports and how to benefit from the Saudi experience in streamlining shipment release processes. Another meeting was held with Raad Hassan, Vice President of Saudi ACWA Power, a major energy solutions company in the Middl e East, to discuss a new project in Egypt with an estimated investment cost of $1.5 billion. ACWA Power has a significant investment portfolio in various countries, with holdings exceeding tens of billions of dollars. Source: State Information Service Egypt