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Al-Qasabi: Over 70% of Saudi Investor Problems in Egypt Have Been Resolved

Egypt Prime Minister Mustafa Madbouly meets with Saudi Commerce Minister Majed Al-Qasabi and his accompanying delegation. (Asharq Al-Awsat)
Egypt Prime Minister Mustafa Madbouly meets with Saudi Commerce Minister Majed Al-Qasabi and his accompanying delegation. (Asharq Al-Awsat)
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Al-Qasabi: Over 70% of Saudi Investor Problems in Egypt Have Been Resolved

Egypt Prime Minister Mustafa Madbouly meets with Saudi Commerce Minister Majed Al-Qasabi and his accompanying delegation. (Asharq Al-Awsat)
Egypt Prime Minister Mustafa Madbouly meets with Saudi Commerce Minister Majed Al-Qasabi and his accompanying delegation. (Asharq Al-Awsat)

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.

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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.