The gathering included influential figures such as Ibrahim Al-Mubarak, CEO of the Saudi Investment Marketing Authority, and Saudi Ambassador to Cairo, Saleh bin Eid Al-Husseini. The conversations highlighted the robust and historic ties between Egypt and Saudi Arabia, with both sides expressing a strong commitment to enhancing these bonds through substantial economic engagements.
Prime Minister Madbouly underscored the Egyptian government’s dedication to creating an attractive investment climate, emphasizing recent reforms aimed at simplifying procedures and offering incentives to foreign investors. “Our focus is on supporting the private sector and boosting bilateral trade,” Madbouly remarked, noting the significance of the bilateral investment agreement now in force.
During the meeting, Madbouly invited the Saudi delegation to tour the New Administrative Capital, showcasing the rapid development and modernization efforts. He highlighted Egypt’s strategic sectors—industry, agriculture, tourism, and communications—as areas brimming with investment potential. Opportunities ranging from solar energy and electric vehicles to tourism prospects along the Red Sea were presented as ripe for Saudi investment.
Dr. Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones, shared insights from the recent business forum, which attracted over 180 investors from both nations. “The discussions focused on real estate, industrial, and tourism sectors, presenting a myriad of opportunities for cross-border investments,” Heiba stated.
Saudi business leaders, impressed by Egypt’s development strides, reiterated their commitment to strengthening economic ties. Al-Mubarak expressed gratitude for the Egyptian government’s proactive approach in fostering an investor-friendly environment. He noted, “The swift execution of the bilateral investment treaty is a testament to both nations’ resolve to enhance economic cooperation.”
Expert commentary from Dr. Nadia Al-Ghussein, an economist specializing in Middle Eastern markets, highlighted the strategic importance of this partnership: “Egypt and Saudi Arabia are not just economic allies but pillars of regional stability. Their collaboration sets a precedent for economic integration and resilience amidst global trade tensions.”
As the meeting concluded, Prime Minister Madbouly expressed optimism for the rapid establishment of new Egyptian-Saudi businesses, promising expedited government support for upcoming projects. “We are committed to ensuring any new Saudi venture receives immediate attention and support,” he assured, emphasizing the granting of the ‘golden license’ to facilitate swift project implementation.
This meeting marks a pivotal chapter in Egypt-Saudi relations, presenting a united front in pursuit of economic growth and regional prosperity. The collaborative spirit embodied in these discussions heralds a promising future for both nations.
