Saudi Public Investment Fund signs agreement with Egypt to invest on its lands

CAIRO - 16 March 2022: The Egyptian Prime Minister, Mostafa Madbouli, witnessed Wednesday the signing ceremony of a joint report on agreeing on a draft agreement between the governments of Egypt and Saudi Arabia regarding the Saudi Public Investment Fund to invest in Egypt.

 

The agreement comes out of the close historical ties that unite Egypt and Saudi Arabia, and based on the directives of the leaderships of the two countries to strengthen cooperation and take everything that would support the relations between the two brotherly countries.

 

It also expedites the completion of procedures related to investment in the Arab Republic of Egypt through the Public Investment Fund.

 

 

The agreement also comes as a culmination of the meetings held between the Public Investment Fund in the Kingdom of Saudi Arabia and the Ministry of Planning and Economic Development in the Arab Republic of Egypt, with their desire to expedite the completion of the procedures related to the signing of the project.

 

It was signed by Hala Al-Saeed, Minister of Planning and Economic Development, Chairman of the Board of Directors of the Sovereign Fund of Egypt, and on behalf of the Saudi government, Essam bin Saad bin Saeed, Minister of State and Member of the Council of Ministers for Shura Council Affairs.