Saudi investments in Egypt hit $6.3B: Samir
Updated 11/20/2023 8:00:00 AM
Arab Finance: Saudi investments in Egypt amount to $6.3 billion in 7,444 projects in the industrial, construction, tourism, services, agriculture, finance, communications, and information technology sectors, Minister of Trade and Industry Ahmed Samir said in a meeting with Saudi Arabian Minister of Commerce Majed Bin Abdullah Al Qasabi.
He added that Egyptian investments in Saudi Arabia total $1.6 billion in 2,027 projects in the manufacturing, wholesale and retail trade, and construction sectors.
Trade exchange between the two countries in 2022 hit $5.665 billion, compared to about $4.572 billion in 2021, achieving an annual growth rate of 23.9%, Samir said.
The meeting also tackled ways to develop economic cooperation relations between the two countries in various commercial, industrial, and investment fields.
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