Egypt, Saudi Arabia sign 4 investment agreements in food, energy, real estate, and industry
Updated 4/14/2025 7:51:00 AM
Arab Finance: Egypt and Saudi Arabia signed four investment agreements across key sectors during the Egyptian-Saudi Investment Forum, according to a statement from the General Authority for Investment and Free Zones (GAFI).
The deals cover investment promotion, food industries, solar energy, metal industries, and real estate development and marketing.
The first memorandum of understanding (MoU) was signed between Ahmed Samida, CEO of Business City Group, and Hind Al-Aouni, CEO of GCC Capital Partners Saudi Arabia. The agreement focuses on attracting foreign capital to Egypt in sectors including poultry production and farming, food and agricultural processing, agriculture, international education, integrated residential projects, and the export of Egyptian goods.
The second deal, signed by Fayyad Al-Anzi, CEO of Saudi Asascom Holding Group, and Osama Hanafi, Chairman of Alkotec Engineering Industries, outlines plans to establish a factory producing aluminum cladding panels and related products.
The facility will span 10,000 square meters with a production capacity of 3.6 million meters per year.
In the energy sector, Mohamed Kamal El-Din Othman, CEO of Nanovolt, and Amash Al-Dafeen Al-Subaie, Chairman of Al-Yusr Leasing and Finance Company, signed a MoU to jointly market, sell, and install solar panels and supplies in Egypt and Saudi Arabia.
The fourth agreement involves Abdullah bin Obaid Al-Ajmi, Chairman of Yafel Development, and Omar Abdel-Hay, Chairman of Horizon Capital. It stipulates cooperation in managing and expanding Yafel’s real estate development operations.
The forum also featured B2B meetings between Egyptian and Saudi business leaders to explore further partnership opportunities.
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