Minister El-Khatib seeks to deepen Saudi investment in Egypt

Egypt is seeking to deepen economic cooperation with Saudi Arabia, with a particular focus on attracting more Saudi investment, Investment and Foreign Trade Minister Hassan El-Khatib said Monday. During a meeting with Saudi Ambassador to Cairo Saleh bin Eid Al-Hussaini, El-Khatib emphasised his ministry's commitment to strengthening the two countries' economic partnership. 'The Egyptian government is keen to create a favourable investment climate and provide all necessary support to Saudi investors,' El-Khatib said. 'We believe this is essential to building on our strong bilateral relationship.' To further enhance cooperation, El-Khatib proposed developing a comprehensive action plan to identify new investment opportunities. This plan includes increased communication with Saudi companies, streamlining investment procedures,and providing support to existing Saudi businesses in Egypt. 'The current focus on supporting the private sector presents unprecedented opportunities for economic integration between Eg ypt and Saudi Arabia,' El-Khatib said. 'We aim to capitalise on this momentum.' Al-Hussaini expressed Saudi Arabia's appreciation for Egypt's efforts to improve the investment climate. He emphasised his country's desire to expand its investment footprint in Egypt and pledged continued cooperation with the Egyptian government. Source: State Information Service Egypt