Saudi Crown Prince encourages local investors to expand in Egypt

Office for the Saudi-Egyptian Business Council has been opened

  
Saudi Crown Prince Mohammed Bin Salman speaks during televised interview in Riyadh, Saudi Arabia, April 27, 2021. Picture taken April 27, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

Saudi Crown Prince Mohammed Bin Salman speaks during televised interview in Riyadh, Saudi Arabia, April 27, 2021. Picture taken April 27, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

 
RIYADH: Saudi Crown Prince Mohammed bin Salman has directed local investors to expand their investments in Egypt, Al Arabiya reported citing the Chairman of the Business Council Bandar bin Mohammed Al-Amri.

“We are ready to invest in Egypt, and we have opened an office for the Saudi-Egyptian Business Council to invest in Egypt, and we invite Saudi investors to invest in Egypt,” Al-Amiri said during his meeting with the Egyptian Minister of Housing Assem Al-Jazzar.

“There are great opportunities for investment in Egypt, and there will be investments in the next 2 to 3 years, greater than we expect,” Al-Amiri said, according to a ministry statement on Thursday. “We currently have about 150 Saudi investors and businessmen ready to invest in Egypt.”

The Egyptian minister of housing and the chairman of the Saudi-Egyptian business council met with a number of Saudi investors, discussed opportunities for joint cooperation, and presented investment opportunities available in various projects in Egypt, in the presence of Ministry of Housing officials.

There are great opportunities for investment in Egypt in light of the construction boom that the country is witnessing during the era of President Abdel Fattah El-Sisi, said Al-Jazzar.

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