Kuwaiti investments in Egypt exceed $15B

CAIRO - 26 February 2023: Kuwaiti investments in Egypt are estimated at more than $15 billion, making it the third largest Arab trading partner for Egypt, and the fourth largest global trading partner among the countries investing in Egypt, according to the Petroleum Minister, Tarek el-Molla.

 

The Minister of Petroleum noted that the two countries established the Egyptian-Kuwaiti Cooperation Council in 2014, with the aim of enhancing means of economic cooperation and seeking greater cooperation in the field of economy and investment.

 

He affirmed that Egypt and Kuwait are two countries that extend the bonds of interdependence and cooperation between them, leadership, government and people.

 

This came during his participation in the celebration of the Kuwaiti Embassy in Cairo, marking the 62nd anniversary of the National Independence Day and the 32nd anniversary of Liberation Day.

 

Molla revealed that Egypt and Kuwait have a fruitful and constructive cooperation that is developing, as there are more than 100 joint agreements in various fields, as well as investments and development programs that embody the distinguished nature of those relations.

 

He indicated that the two countries are working to strengthen economic relations, in various fields of trade and investment, and that Egypt witnessed, during the era of President Abdel Fattah El-Sisi, unprecedented development in its modern history, and the climate of Egypt became attractive to Arab and foreign investors, in addition to the increase in the size of the presence of Kuwaiti investors in the Egyptian market.