Egypt, Saudi Arabia to Enhance Agreement for Investment CooperationSource: www.export-egypt.com 8/19/2024, Location: Africa |
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Prime Minister Mostafa Madbouly led a session focusing on the clauses of an agreement aimed at bolstering and fostering Egyptian-Saudi investments.
This gathering signifies a pivotal stride in the ongoing journey towards finalizing the agreement. Emphasizing the pivotal role of this pact, the Prime Minister underlined how it would fortify the existing cooperation frameworks between Egypt and Saudi Arabia, fostering a surge in mutual investments. As per a statement by Cabinet spokesman Mohamed El-Homsani, the agreement is set to attract a wave of investments in key sectors, with a keen eye on bolstering small and medium enterprises, safeguarding these investments, and steering both nations towards their developmental aspirations. During the meeting, the Premier stressed the imperative of swiftly concluding the discussions on the agreement's articles to expedite its readiness for signing. Furthermore, he reiterated the Egyptian government's unwavering dedication to streamlining and overseeing all processes concerning Saudi investments in the Egyptian market. In a related development, Saudi Arabia has unveiled plans to establish an investment office at the headquarters of the General Authority for Investment and Free Zones (GAFI) in Cairo this month, as stated by the Saudi Press Agency. GAFI CEO Hossam Heiba underscored the authority's steadfast commitment to elevating Saudi investments, highlighting the presence of approximately 4,000 Egyptian companies currently active in Saudi Arabia. |
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