Egypt resolves 75% of Saudi private sector investment issues
Updated 9/16/2024 3:38:00 PM
Arab Finance: Egypt has successfully addressed around 75% of longstanding investment and private sector issues with Saudi Arabia, aiming to resolve the remaining 25%, Minister of Investment and Foreign Trade Hassan El-Khatib revealed.
This announcement was made during an extended meeting organized by the Council of Saudi Chambers in Riyadh.
The meeting was attended by Egyptian Prime Minister Mostafa Madbouly, along with several ministers, officials, and prominent Saudi investors, to discuss investment opportunities between the two nations.
Over the past 75 days, his ministry has identified key challenges and developed solutions and programs to deal with these issues in the coming weeks, El-Khatib emphasized.
He highlighted the importance of establishing a clear investment policy to enhance Egypt’s economic competitiveness, in order to draw in new partnerships while also focusing on existing investors.
The minister also pointed out that the ministry is working on foreign trade as a complement to investment, in line with Egypt’s goal of increasing exports to $145 billion from $35 billion.
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