Thursday June 13th, 2024
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Saudi Investments in Egypt Reach USD 6.3 Billion

Private Saudi investments in Egypt have also reached USD 35 billion, solidifying Egypt as the top trade partner for the kingdom.

Nouran Saleh

Saudi Investments in Egypt Reach USD 6.3 Billion

The Kingdom of Saudi Arabia’s investments in Egypt have reached USD 6.3 billion, having been spent towards 7,444 projects across multiple sectors, including construction, tourism and telecommunications. Meanwhile, Egypt’s investment in Saudi Arabia has reached USD 1.6 billion in 2,027 projects across manufacturing, retail and construction sectors.

Private Saudi investments in Egypt have reached USD 35 billion, solidifying Egypt as the top trade partner for the kingdom, according to the Kingdom’s Ministry of Commerce.

The exchange rate between the two nations increased from USD 4.572 billion in 2021 to USD 5.655 billion in 2022, amounting to a 23% increase.

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