The Prime Ministers of Egypt and Kuwait hold an expanded discussion session to discuss issues of common interest between the two countries

Madbouly: The sisterly State of Kuwait is always supportive of Egypt… and we welcome joint investments between the two countries

We follow with great appreciation all the positive steps taken by the Kuwaiti government to achieve progress for its people

The Kuwaiti Prime Minister: Egypt’s positions in support of Kuwait are clear… and our presence today is to consolidate the close relationship between the two countries

 

Dr. Mostafa Madbouly, Prime Minister, received today at the Council of Ministers headquarters in the New Administrative Capital, His Highness Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, Prime Minister of the sisterly State of Kuwait, where they held an expanded discussion session during which they discussed a number of issues of common interest between the two countries. The two brotherly countries. 

The discussions were attended from the Egyptian side by: Hassan Abdullah, Governor of the Central Bank, Ahmed Kajouk, Minister of Finance, Dr. Sherif Farouk, Minister of Supply and Internal Trade, Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, and Ambassador Ihab Fahmy, Assistant Minister of Foreign Affairs for Arab Affairs.  

While the discussions were attended from the Kuwaiti side by: Dr. Sobeih Abdulaziz Al-Mukhaizeem, Minister of Electricity, Water and Renewable Energy, Minister of Finance and Acting Minister of State for Economic Affairs and Investment, Sheikh Saud Salem Abdulaziz Al-Sabah, Managing Director and Member of the Board of Directors of the General Authority for Investment, Ambassador Ghanem Saqr Ali Al-Ghanem, Ambassador of the State of Kuwait to Cairo, and Sheikh Abdullah Sabah Humoud Al-Sabah, Assistant Director General for Investment Operations. Direct Investment Promotion Authority.   

At the beginning of the discussions; Dr. Mustafa Madbouly welcomed His Highness Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, Prime Minister of the sisterly State of Kuwait, and his accompanying delegation to their second country, Egypt, stressing his personal keenness for the Kuwaiti Prime Minister to visit the New Administrative Capital to witness up close the scale of development that has occurred in the New Administrative Capital over the past few years.

 

The Prime Minister stressed the depth of the existing bilateral relations between Egypt and Kuwait, saying: We witnessed this during   The President of the Republic met the Kuwaiti Prime Minister and his accompanying delegation, this morning, where the President expressed his love, appreciation and respect for brotherly Kuwait and for His Highness Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait, stressing in this context Egypt’s great appreciation for the sisterly State of Kuwait for its permanent support for Egypt.

Dr. Mostafa Madbouly added that the sisterly State of Kuwait is always supportive and supportive of Egypt, indicating that the position of the State of Kuwait in support of Egypt is appreciated. At all different levels; Leadership, government, and people.

He said: We follow with great appreciation all the positive steps taken by the Kuwaiti government in order to achieve progress for its people.

During the discussions session, Dr. Mostafa Madbouly also touched on the full care and support provided by the sisterly government of the State of Kuwait to the Egyptian community. 

In a related context, the Prime Minister confirmed that there is a trend and agreement between the governments of the two countries to discuss joint investment opportunities in a number of From various sectors, saying: We welcome efforts to enhance joint investments between the two countries.

In this context, Dr. Mostafa Madbouly indicated that a working group was formed from the Egyptian and Kuwaiti sides to hold consultations on promising investment opportunities in a number of sectors, adding that the Egyptian and Kuwaiti sides agreed in principle on a number of investment opportunities presented. 

During the discussions, His Highness Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, the Kuwaiti Prime Minister, confirmed, This visit comes as a continuation of the series of mutual visits between the Egyptian and Kuwaiti sides, whether at the level of the political leadership in the two countries or at the level of the heads of government in the two countries, noting that today’s visit comes as a dedication to the close relationship between Egypt and Kuwait.

His Highness Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah stressed the strength of the relations between Egypt and Kuwait, noting that Egypt’s positions in support of Kuwait are clear, as Egypt has always been by our side in many crises, adding: Your positions are with us on Kuwaiti issues. It will be forgotten, as we fought together, and the blood of the martyrs from the two countries was mixed.

With regard to Kuwaiti investments in Egypt, the Kuwaiti Prime Minister said that there are many Kuwaiti companies operating in the Egyptian market in a number of different sectors, expressing his aspiration that the facilitations and incentives offered by the Egyptian government will contribute to attracting another number of Kuwaiti investors in the private sector, especially in light of a number of investment opportunities proposed by the Egyptian side, and stressing that These investment projects will benefit both countries.

In this context, he stressed that the Egyptian market enjoys competitive investment advantages compared to many countries in the region, noting in this regard that the Egyptian workforce is distinguished by efficiency.

During the discussions, the Minister of Finance presented a number of investment opportunities to the Kuwaiti side, stressing that these investments exist in promising strategic sectors and that they aim to enhance fruitful cooperation between the two countries. 

The Governor of the Bank also confirmed The Central Bank said that the monetary market currently enjoys stability in light of the reform measures undertaken by the Central Bank since March 2024, stressing the bank’s commitment to the flexible exchange rate policy, in addition to cooperation between the Central Bank and the government to coordinate monetary and financial policies.

Hassan Abdullah stressed that local resources of foreign currency such as “remittances from Egyptians abroad” and "exports" And "foreign direct investment" And other local resources are the first supporter of the stability witnessed by the exchange rate.

During the discussions session, Kuwaiti officials stressed the important position of the Egyptian market as one of the most important markets in terms of return on investment.

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