Investments
Both sides affirmed their commitment to further enhancing Egyptian-British relations across various political, economic, and investment sectors.
Talks covered boosting bilateral relations between both countries in various fields, including economic ties and investments.
Minister Yahya said in statements to the Middle East News Agency (MENA) the United States is a significant trading partner for Egypt
The president reviewed the work progress in various housing and development initiatives, instructing setting clear timelines for completing ongoing projects.
The authority signed a $2 million agreement with SAI Hydraulic, a Turkish-Egyptian joint venture, to establish a facility for manufacturing equipment and trailers.
Sheikh Al-Sabah expressed his appreciation for Egypt's historical role in supporting Kuwait at various levels, praising in this regard Egypt's important role in sending experts who contributed to supporting his country's renaissance in various fields.
Ali Alghanim & Sons Group, based in Kuwait, is looking to expand its presence in Egypt with plans that may include the establishment of an insulin factory in partnership with foreign companies.
Talaat said that Egypt now hosts 175 global companies operating 195 outsourcing centers, providing employment opportunities for 175,000 specialists.
About 2,066 Chinese companies operate in Egypt, with investments totaling around $8 billion across diverse sectors such as textiles, clothing, home appliances, and animal feed, said Executive Vice Officer of the General Authority for Investment and Free Zones (GAFI) Yasser Abbas.
President Abdel Fattah El-Sisi and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, witnessed the signing of the agreements as they held expanded talks in Cairo
The crown prince’s visit comes amid growing speculation about new significant Saudi investments in Egypt, particularly as Prime Minister Mostafa Madbouly revealed in September that Saudi Arabia is seeking to invest in the country.
Prince Mohammed bin Salman highlighted Saudi Arabia’s progress under Vision 2030 and commended the contributions of Egyptian workers to the Kingdom’s development.
Madbouly met with Dai Jun, the Chairman of the Board of Directors of the global "Famsun Agrifam" Group, which will- in cooperation with Mostaqbal Misr Company- grain silos with storage capacity of 500,000 tons in Egypt’s New Delta.
Kouchouk outlined key fiscal policies and upcoming tax measures designed to provide greater stability and support for the private sector, fostering a conducive environment for increased investments.
Egyptian exports to the UAE also saw growth, with exports totaling $380.1 million in the first quarter of 2024, up from $379 million in the same period of 2023, showing an increase of 0.3 percent.
Due to the ongoing Israeli war on the Gaza Strip and the Yemeni Houthis’ attacks against Israeli, UK and US ships in the Red Sea in response to the Israeli war against the Palestinians, Egypt’s Suez Canal revenues have sharply declined.
The goal is to reach a minimum of $3.6 billion, surpassing the $3.3 billion recorded in 2023.
This comes with the aim to enhance private sector participation in development efforts, aligning with the state's policy document.
These investments will aim to optimize operations in logistics, communications, microfinance, and consumer finance
She added Thursday that the company achieved exports totaling around $1.5 billion in 2023, and it is expected that the company's exports will reach $1.75 billion by the end of 2024.
