Explore investment opportunities .. The Saudi -Egyptian Investment Forum will be held

The work of the Saudi -Egyptian Investment Forum was held in Cairo on Sunday, the work of the Saudi -Egyptian Investment Forum under the title “A Strategic Partnership for Development”, to enhance economic cooperation and explore the available investment opportunities, with the participation of a number of Saudi and Egyptian businessmen.
Hossam Haiba, the CEO of the General Authority for Investment and Free Zones in Egypt, promised Hossam Heiba, in his speech, the Saudi -Egyptian relations are a model for the distinguished cooperation and integration at all economic, cultural and political levels, and represents an opportunity to benefit from the huge relative advantages and opportunities available for the investment partnership between the two countries.
He pointed out that the Egyptian government pays great attention to overcoming the challenges facing Saudi companies invested in Egypt, and succeeded in finding solutions to about 90% of the challenges facing Saudi companies, and work is underway to solve and overcome all challenges.

An attractive investment environment

Hossam Heiba ​​said: “The Egyptian government is committed to finding an attractive investment environment and is working to direct adequate support for expatriate investments, foremost of which is Saudi investments, which constitute a pillar of sustainable development in Egypt.”

He added that it was established a unit for Saudi investments in Egypt to provide support to Saudi companies.
He noted the important role played by the Investment Protection Agreement between the two countries in promoting and developing joint investments between the two countries, and providing a clear legal framework that protects the investments of citizens of both countries, which increases the confidence of investors and achieving and facilitating procedures.
The Egyptian official pointed out that the Kingdom and Egypt can benefit from the changes in the world, both economic and geopolitical, through enhancing economic and trade relations between them by strengthening intra -trade, increasing joint investments, and cooperation in the field of industry through the establishment of joint industrial regions, and cooperation in the field of services.

The depth of historical and strategic relations

In his speech, Vice President of the Saudi Chambers of Commerce Fayez Al -Shuaili stressed that the forum embodies the depth of historical and strategic relations between Egypt and the Kingdom, noting that the relations between the two countries are not merely diplomatic ties, but rather relations based on understanding and joint cooperation in various fields.
He praised the great efforts made between the two countries to enhance these relations by establishing new companies that contribute to achieving development and sustainability, indicating that cooperation between Saudi and Egyptian businessmen shows the spirit of innovation, which is what we need today greatly.
He expressed his aspiration for more joint initiatives that enhance investment opportunities and open new horizons in the field of investment between the two countries.

The current investment size

The head of the Saudi -Egyptian Business Council, Bandar bin Mohamed Al -Amri, noted the support of the leadership of the two countries for the private sector, noting that the current investment of Saudi private sector companies in Egypt is 35 billion dollars, from the target of increasing them within 4 years to reach 50 billion dollars.
He added: About 5,000 Egyptian companies work in the Kingdom because of the attractive and supportive investment environment you find.

Real estate development investments

The Egyptian Assistant Minister of Housing for Technical Affairs, Dr. Abdel -Khaleq Ibrahim Development and Cooperation between the Kingdom and Egypt in the field of real estate development is one of the basic pillars of the economic development of the two countries, noting that Saudi investments in the real estate sector are one of the largest foreign investments.

He declared the formation of a permanent unit to facilitate the work of Saudi investors within the Urban Communities Authority to facilitate the procedures of Saudi investors, to offer investment opportunities, and to overcome obstacles and challenges facing Saudi investors in the field of real estate development.
Planning is taking place to establish a joint real estate fund between the two countries, and to organize a Saudi -Egyptian real estate forum to establish a joint real estate governor between the developers in the two countries.

Review of partnership opportunities

The forum reviewed the opportunities and incentives of investment in the Kingdom, Egypt, the business environment and the opportunities for partnership, especially in the sectors of industry, real estate development, tourism, economic and free areas.
At the conclusion of the forum, a number of understanding of Egyptian and Saudi companies were signed in various fields.