"The Kingdom of Saudi Arabia ranked first in terms of Arab investments in Egypt, and the number of Saudi projects in Egypt reached more than five thousand projects in all fields of productivity and service. On the other hand, the Egyptian projects grew in Saudi Arabia, bringing the number to one thousand three hundred projects with investments exceeding two and a half billion dollars, including one thousand projects with 100% Egyptian capital." said Ahmed El-Wakil, the president of the General Federation of Egyptian Chambers of Commerce. The word of El Wakil came during the opening of the Egyptian-Saudi Business Forum in Cairo.
El Wakil called for exploiting the investment opportunities offered by Egypt represented by promising projects in the Suez Canal and in the fields of electricity, energy, transport, industry, tourism, real estate and other fields. He also stressed on the "need to remove all obstacles, and the settlement of disputes in order to prevent recurrence; to devote serious investor to work and production."
For his part, Dr. Sami Al Obaidy, the President of the Council of Saudi Chambers stressed in his speech on "the importance of progress in cooperation and trade exchange between the two countries, and to achieve more in this area, revealing more serious investments from the Saudi and Egyptian sides," demanding at the same time “the increase of the Government support in light of the challenges and problems facing some of the delayed investments."
Source (Saudi Press Agency, Edited)
