Saudi Crown Prince Pledges USD 5 Billion Investment in Egypt
The announcement was made during a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly in Riyadh.
During a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly, Saudi Crown Prince Mohammed Bin Salman announced a USD 5 billion investment in Egypt from the Kingdom’s Public Investment Fund (PIF). The Crown Prince and the Prime Minister also discussed broader efforts to enhance bilateral relations and economic ties between Egypt and Saudi Arabia.
“We are currently working on finalizing the agreement on the protection of joint investments, which will contribute to increasing investments between the two countries,” Prime Minister Mabdouly announced during the meeting. “A significant number of Egyptian investment companies operate in Saudi Arabia, in addition to Saudi investments in Egypt.”
In turn, the Crown Prince commended Egypt’s efforts to address concerns of Saudi investors and resolve outstanding trade disputes, furthering investment attraction from the Kingdom.
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