Egyptian Prime Minister Mostafa Madbouli has expressed Egypt’s keenness to finalize more investment partnerships with the Saudi side, especially with the near completion of the terms of an agreement to protect and stimulate joint investments, which will open up new and broad horizons for more fruitful partnerships between both countries.

This came during Madbouli’s meeting on Monday with Saudi Minister of Industry and Mineral Wealth Bandar Ibrahim Al Kharif, on the second day of his visit to the kingdom.

They discussed means to increase Saudi investments in Egypt and efforts to finalize the agreement as a large number of Egyptian investment companies are working in the kingdom while many Saudi investment companies are working in Egypt.

Madbouli said the Egyptian government gives special importance to the sector of industry and mineral wealth.

He pointed out to incentives given to investors to encourage them to pump more investments in Egyptian projects.

For his part, the Saudi minister said that Egypt wa
s one of the most important countries the kingdom worked with in 2023 after the launch of the Saudi industrial strategy.

He pointed out to cooperation with Egyptian industrialists to achieve sustainable products and industrial integration and continue training programs.

During the meetings with various Saudi officials, Madbouli expounded the current Egyptian economic situation, reiterating in this context that the state was able to overcome the crisis it faced in the past period.

Source: State Information Service Egypt