Egypt briefs Kuwait on investment opportunities in North Coast, Red Sea, Nile

CAIRO – 23 February 2025: Prime Minister Mostafa Madbouly has highlighted investment opportunities in the North Coast, the Red Sea, and areas directly overlooking the Nile River during a meeting with several Kuwaiti officials and ministers on Sunday.

Madbouly and his Kuwaiti counterpart, Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, co-chaired the meeting, which included official talks between the two countries.

Madbouly spotlighted investments in agriculture, food security, and pharmaceuticals, underscoring the rewarding returns on investments in the Egyptian market.

Sheikh Ahmad expressed his support for a greater presence of Kuwaiti banks and investments in Egypt, which would help increase joint investments between the two nations.

 

He also called for an increase in trade exchange, aligning with the firm political relations between the two countries.

Madbouly discussed the efforts of the Egyptian government in economic reform and its role in improving the investment climate to attract more foreign direct investment.

He noted that the economic reform program prioritizes supporting the role of the private sector by setting a ceiling for public investments, aiming to increase private sector investments to 65% of total investments.

He added that the current percentage of private sector investments has reached 60%.

Madbouly stressed Egypt’s eagerness to attract more foreign direct investments, citing important investment opportunities in the Egyptian market that offer rewarding returns for investors.

He underlined several promising investment opportunities across various sectors and locations in different governorates.

 

He also expressed his hope for the swift convening of the joint business council between Egypt and Kuwait.

Madbouly highlighted the role and experience of Egyptian companies in implementing projects in Kuwait and their readiness to undertake more projects in the brotherly Arab nation amidst ongoing development efforts.

Madbouly began his official visit to Kuwait on Saturday, during which he met with Kuwait’s Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah.