GAFI head urges fostering investment relations with Saudi Arabia

CAIRO - 26 June 2022: Chief Executive Director of the General Authority for Investment & Free Zones (GAFI) Mohamed Abdel Wahab called for strengthening investment relations between Egypt and Saudi Arabia, especially in light of the current unprecedented support for the private sector.

 

His call came during a meeting on Sunday with a delegation of the Saudi Real Estate National Committee headed by Muhammad Abdullah Al Murshid.

 

The meeting was attended by Tarek Shoukry, Head of the Egyptian Real Estate Development Chamber, and representatives of 27 major Saudi companies in the field of real estate development, industry, agriculture and building materials.

 

The two sides discussed the possibility of increasing Saudi investments in Egypt, particularly after the recent official visit by Saudi Crown Prince Mohammed bin Salman, during which some 14 investment agreements were signed between the two countries.

 

They also explored available investment opportunities in national projects carried out by the State and how to make the best use of the Egyptian market's competitive advantages.

 

Abdel Wahab asserted the GAFI seeks to lure further Saudi investments into Egypt, through acquainting the Saudi business community with the significant improvement in the Egyptian investment climate.