Cairo: Prime Minister Moustaf Madbouli and his Kuwaiti counterpart Sheikh Ahmed Abdullah al Ahmad al Sabah: Egyptian Prime Minister Moustaf Madbouli and Kuwaiti Prime Minister Sheikh Ahmed Abdullah al Ahmad al Sabah held discussions on enhancing bilateral cooperation across various sectors. These talks, held at Bayan Palace, emphasized Egypt’s desire to attract more foreign investment by highlighting significant investment opportunities within its market.

According to State Information Service Egypt, the meeting included notable attendees such as Kuwaiti Deputy Prime Minister and Minister of State for Cabinet Affairs Sharida al Maousherji, Head of the Prime Minister’s Office Abdulaziz al Dakhil, and Minister of Foreign Affairs Abdullah Ali Al Yahya. Alongside these officials, Egyptian Ambassador to Kuwait Osama Shaltout was also present. The Kuwaiti prime minister praised the bilateral relationship between the two nations and highlighted efforts to encourage Kuwaiti investments in Egypt, along with cooperation in various fields.

Sheikh Ahmed Abdullah al Ahmad al Sabah stressed the need for collaborative efforts between the Egyptian and Kuwaiti governments to enhance trade exchanges and align them with the robust political connections shared by the two countries. He expressed interest in partnering with Egypt in the pharmaceutical and food security sectors.

Prime Minister Madbouli, appreciating the hospitality extended by the Kuwaiti prime minister, expressed his eagerness to strengthen economic ties between the nations, aligning them with the close political relations shared by their leaders. He extended an invitation to Sabah to visit Egypt soon and elaborated on Egypt’s economic reform initiatives aimed at creating a conducive investment environment and increasing foreign direct investments.

Madbouli highlighted that Egypt’s economic reform program prioritizes the private sector, aiming to elevate private sector investments to 65% of the state’s total investments. Currently, private sector investments constitute 60%. He also outlined promising investment opportunities across various sectors and regions in Egypt, along with government efforts to simplify investment procedures through initiatives like the “golden license,” which streamlines processes for priority projects.

Additionally, Madbouli discussed the government’s strategies to reduce external debt and improve macroeconomic indicators, further enhancing Egypt’s investment landscape.