In a meeting with Egyptian government officials on Thursday, Saudi Investment Minister Khalid Al-Falih announced the kingdom’s intention to escalate investments from the Public Investment Fund (PIF) in Egypt. Al-Falih highlighted plans to convert Saudi deposits in Egypt into investments. Over two days of intensive discussions in Alamein, described as a “hive of activity,” Saudi officials worked closely with Egyptian ministers to explore numerous joint ventures to strengthen bilateral relations, according to Egypt’s Cabinet. “I will collaborate with my counterpart, the Egyptian Minister of Investment, to enhance these investments and encourage Saudi investors to expand their existing projects,” he said. “We view Egypt as a complement to Saudi Arabia, a promising market, and a crucial regional export platform.” He noted the Saudi leadership’s directives to partner with Egypt, fostering mutual benefits for both nations’ populations. Mutab Al-Shathri, representing the PIF, stated that the fund’s companies have invested approximately USD 3 billion (EGP 146 billion) in Egypt, as per the Egyptian Cabinet’s statement. Egyptian Prime Minister Mostafa Madbouly, during the meeting, acknowledged the current diligent efforts of both governments to elevate mutual investment rates. “As a government, we are committed to…
