Kuwait has invested nearly $15 billion in industrial projects and other sectors in Egypt and the assets are expected to surge in the next years following the Kuwaiti Emir’s visit to Cairo, an Egyptian newspaper said on Thursday.

Addustour quoted Mohammed Saaduddin, Vice Chairman of Egypt’s Federation of Investors’ Association, as saying nearly 1,337 Kuwaiti companies operate in Egypt in various sectors, including tourism, industry, real estate, farming and communication.

“About 1,337 Kuwaiti companies operate in Egypt…their investments are estimated at nearly $15 billion and I believe there will be a large increase in the near future following the Emir’s visit to Egypt,” Saaduddin said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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