23 May 2017 09:00 AM

Saudi investors to increase investments in Egypt to dlrs 51bn

Friday، 19 May 2017 - 02:28 PM

Most Saudi businessmen adore Egypt. The Egyptian-Saudi Business Council is eager to increase investments in Egypt to dollars 51 billion, Saudi businessman Saleh Kamel said.

Kamel made the remarks during his meeting with Egyptian Investment and International Cooperation Minster Sahar Nasr on the fringe of the Islamic Development Bank 42nd annual meeting in Jeddah.

The meeting was attended by a galaxy of Saudi businessmen, a statement by the Ministry of Investment and International Cooperation said on Friday 19/05/2017.

Nasr called on the Saudi businessmen to inject more investments into Egypt's mega development projects, topped by the Suez Canal Axis Development and the new administrative capital.

The minister expounded the new investment law, noting that the regulations of the law are being prepared in coordination with all ministries concerned.

Meanwhile, the Saudi investors expressed willingness to boost their investments in Egypt during the coming period in order to maintain the Gulf country's rank as the largest Arab investor in Egypt.

Through adopting an ambitious investment plan in the fields of agriculture, industry and tourism, Saudi Arabia would boost its investments in Egypt to dollars 51 billion, the businessmen said.

MENA

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