Saudi Minister of Commerce Majid al-Qasabi said more than 70 percent of the problems facing Saudi investors in Egypt have been solved.
Egypt’s Prime Minister Mustafa Madbouly received a Saudi delegation led by the Saudi Minister and included Chairman of the Saudi-Egyptian Business Council Bandar al-Amiri, several Saudi businessmen, Minister of Trade and Industry Ahmed Samir, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba, and Ambassador Osama al-Nugali.
During the meeting, they discussed ways to enhance economic and trade partnership between Saudi Arabia and Egypt.
The Prime Minister welcomed the Saudi Minister and his accompanying delegation, stressing the strength of the bilateral relations between Egypt and the Kingdom.
Madbouly indicated that cooperation between them will continue to serve common issues.
He stressed that Egypt continues to improve the investment climate, removing obstacles, and resolving investor issues.
For his part, Qasabi explained that the Egyptian government is trying to solve the remaining issues.
He confirmed that Custodian of the Two Holy Mosques King Salman, and Prince Mohammed bin Salman, Crown Prince and Prime Minister, have issued directives to continue cooperation with Egypt and increase Saudi investments in its markets.
The accompanying delegation included 91 Saudi businessmen, said Qasabi, noting that they held meetings with Egyptian officials, and as a result, they developed three paths for cooperation.
The first path includes investment in the industrial sector with the aim of integration.
The chambers of commerce of the two countries and the Businessmen Association agreed to identify opportunities and determine priorities, said Qasabi, adding that they would develop a clear roadmap to promote the opportunities.
The second track discusses integration to implement projects by Egyptian and Saudi ministries through integration between their governments.
The final addressed institutional work between Saudi Arabia and Egypt to define the roles of business and chambers of commerce and the tasks assigned to them.