In a step toward bolstering economic cooperation, the Saudi Public Investment Fund (PIF) announced an initial investment of USD 5 billion (EGP 103,269,295) (EGP 242 billion) in Egypt on 17 September.
The announcement is part of ongoing discussions to enhance bilateral economic ties, focusing on protecting Saudi investments in Egypt and driving mutual growth.
Egypt’s Prime Minister Mostafa Madbouly recently highlighted the ongoing negotiations to finalize an agreement that would ensure the protection of Saudi investments in the country.
These discussions between Egyptian officials and Saudi representatives aim to create a more stable and secure environment for Saudi investors. Madbouly stressed Egypt’s commitment to facilitating and safeguarding foreign investments, particularly from key regional partners like Saudi Arabia.
This investment is part of a broader Saudi strategy to expand its portfolio across various sectors, with Egypt playing a pivotal role in the fund’s regional investment plans. With this substantial financial commitment, sectors such as infrastructure, technology, and energy are expected to benefit, fostering job creation and economic growth in Egypt.
As the largest Arab country, Egypt offers Saudi investors significant opportunities, while Saudi Arabia’s wealth and investment potential serve as a crucial driver for Egypt’s economic development
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