Cairo: Prime Minister Mostafa Madbouli affirmed that Kuwait has always been a staunch supporter of Egypt, stressing that Kuwait's consistent stance in backing Cairo is highly appreciated at all levels; leadership, government, and people. Madbouli made the remarks during his expanded talks with Kuwaiti Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, where both sides discussed a range of issues of mutual interest. The meeting was attended by Central Bank of Egypt Governor Hassan Abdallah, Finance Minister Ahmed Kouchouk, Supply and Internal Trade Minister Sherif Farouk, Investment and Foreign Trade Minister Hassan El Khatib, and Assistant Foreign Minister for Arab Affairs Ihab Fahmy.
According to State Information Service Egypt, Madbouli emphasized his keenness for Sheikh Ahmad to visit the New Administrative Capital to witness firsthand the scale of development achieved there in recent years. He highlighted the depth of bilateral relations between Egypt and Kuwait, noting that President Abdel Fattah El Sisi expressed his appreciation for Kuwait and for Emir of Kuwait Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah during their meeting earlier in the day. Madbouli also praised Kuwait's continued support for the Egyptian community residing there, and said both governments share a common vision to boost joint investments across multiple sectors.
A joint working group, he added, has been formed to explore promising investment opportunities, and the two sides have already reached preliminary agreement on several potential projects. For his part, Sheikh Ahmad said his visit comes as part of the ongoing exchange of visits between the two countries, reflecting their strong and historic ties. He praised Egypt's consistent support for Kuwait over the years, recalling moments of shared struggle and sacrifice, saying: 'Egypt has always stood by Kuwait, and our blood was mixed on the battlefield.'
Sheikh Ahmad added that numerous Kuwaiti companies are already operating successfully in Egypt in various sectors, expressing hope that Egypt's investment incentives will attract more Kuwaiti private investors. He emphasized that Egypt's market offers unique competitive advantages, including a skilled workforce. During the talks, Finance Minister Ahmed Kouchouk presented several strategic investment opportunities to the Kuwaiti side, while Central Bank Governor Hassan Abdalla confirmed that Egypt's monetary market is stable following reform measures introduced since March 2024.
He reaffirmed the CBE's commitment to a flexible exchange rate policy and highlighted the strong inflows of foreign currency from remittances, exports, and foreign direct investment. Kuwaiti officials, in turn, underscored Egypt's position as one of the region's most attractive markets in terms of investment returns.