Egyptian-Saudi Association Targets EGP 2bn Investments in 2014Source: www.export-egypt.com 1/4/2014, Location: Africa |
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The Egyptian-Saudi Businessmen Association plans in 2014 to attract 200 companies to invest in Egypt with a total of EGP 2bn. In addition to, establish a fund for small and medium enterprises with a capital of EGP 100m.
Large numbers of Saudi businessmen expressed interest in investing in Egypt during the association’s launch party last Thursday. Several Saudi businessmen attended the celebration including Abd El-Rahman El-Sharbtly, Fahd El-Shobokshy, Abd Allah El-Raghy and board members of the Saudi Business Council as well as the board of Saudi Chambers. The Minister of Investment, Osama Saleh said, “Saudi Arabia is one of the oldest investing partners in Egypt. It is second in non-petroleum investments in Egypt with a total of $628m spread over 3,000 companies in different industries that include tourism, services and increasingly agriculture following the January 25th Revolution,” He also said that the government hopes to increase Saudi investments into the Egyptian market in the coming years”. |
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