CAIRO - 5 June 2023: Egyptian Prime Minister Mostafa Madbouly received Sunday at the government headquarters in the New Administrative Capital, Bandar bin Ibrahim Al-Khorayef, the Saudi Minister of Industry and Mineral Resources, and his accompanying delegation, where they discussed ways to enhance cooperation and integration between Egypt and Saudi Arabia in the industry file.
Dr. Mostafa Madbouly affirmed the durability and strength of the Egyptian-Saudi relations, noting that during this stage, great efforts are being made to strengthen these relations, saying: "We have common relations, and we are united by bonds of brotherhood, integration and Arab national security."
Dr. Mustafa Madbouly asked to convey his greetings and appreciation to His Royal Highness, the Saudi Crown Prince and Prime Minister, Prince Muhammad bin Salman, stressing his pride in the development efforts being made in the Kingdom of Saudi Arabia at this important stage.
The Egyptian Prime Minister stressed the importance of integration between the two countries, pointing to the enormous potentials and human resources that the two countries possess, adding that Egypt is a very large market, and at the same time it is a gateway to the continent of Africa.
He stressed the importance of having an agreement between the two countries that enables the private sector to achieve integration and partnership in the supply and production chains.
Madbouly pointed out that the Egyptian government is adopting the file of deepening industry and maximizing the local component, and there are a number of targeted industries for which a wide range of incentives have been developed, and therefore this is an opportunity to achieve integration, and Saudi investors can benefit from these investment incentives, in a way that enables the two countries to provide Various products for local markets, as well as to serve export purposes.
“During this period, we focus on solving investors’ problems, and the Saudi ambassador to Egypt, Osama Nuqli, is following up with us on these files..indeed, over the past period, we have taken decisions outside the box, which contributed to solving a number of problems that have been pending for decades, and we are continuing to solve all problems.
Meanwhile during the meeting, Engineer Ahmed Samir, Minister of Trade and Industry, explained that over the past period, "we held a number of meetings with our Saudi brothers, and during these meetings, a set of joint work files in the field of industry were agreed upon, the most important of which is industrial integration between the two countries, as well as it has been decided to start exchanging experiences in a number of important industries, such as the automotive industry and the feeding industries."
Samir said that the discussions between the Egyptian and Saudi ministries of industry included the need to benefit from the natural and mineral resources available in both countries, and to enhance the added manufacturing value of these resources.
He pointed out that a delegation of businessmen from the two countries will meet to discuss joint cooperation opportunities, and there is an agenda that includes interviews between the delegation and a number of ministers and officials in the Egyptian government.
During the meeting, Bandar bin Ibrahim Al-Khorayef, the Saudi Minister of Industry and Mineral Resources, expressed his happiness with this visit, saying: I convey to you the greetings of His Royal Highness, Crown Prince, Prince Muhammad bin Salman, Prime Minister, who always emphasizes the strength of the distinguished relations between Egypt. and Saudi Arabia.
The Saudi minister thanked the Egyptian state for its support for Saudi Arabia's bid to host Expo 30, praising Egypt's development vision "2030". He also thanked Egypt for its efforts during the "Future of Mining" conference, which has become an important conference dealing with the future and challenges of this sector.
In this context, he added: "We have a clear strategy for the mining sector, and we are working to discover our wealth more, just as we launched at the end of last year 2022 a national strategy for the industry, which is a very ambitious strategy, as it includes the targeted industries to develop, and increase the contribution of these industries to the gross domestic product, and mechanisms for increasing investment opportunities in it, as well as creating more job opportunities, as well as deepening local industrialization.
He continued: We look forward to the existence of integration between Egypt and the Kingdom in a number of priority industries, noting that the industrial strategy identified 12 targeted sectors, explaining these sectors.
He explained that the Saudi industry strategy aims to create a competitive and sustainable industrial economy, saying: “We look forward to integration with Egypt in the industries identified by the strategy, which include industries that aim to achieve food and drug security, as well as cooperation for optimal utilization and creation of added value in the petrochemical and mining industries, and the automotive industry.”
The Saudi Minister of Industry said: We have a 3-day visit in Egypt, during which we will visit a number of industrial sites, and we will have meetings with the private sector.