CAIRO – 29 July 2024: The Minister of Investment and Foreign Trade, Hassan El-Khatib, engaged in discussions with the Saudi Ambassador to Egypt, Saleh bin Eid Al-Husseini, with a focus on bolstering mutual economic ties and augmenting Saudi investments within Egypt.
El-Khatib underscored Egypt's keen interest in strengthening its alliance with Saudi Arabia across diverse economic sectors.
He highlighted the significance of enacting a comprehensive strategy to unveil fresh avenues for bilateral investments, emphasizing the need to enhance communication with prominent Saudi enterprises to identify collaborative opportunities.
Furthermore, streamlining investment processes, extending requisite support to Saudi investors, and monitoring Saudi firms operating in the Egyptian market were also stressed.
In response, Al-Husseini conveyed Saudi Arabia's gratitude for Egypt's endeavors to enhance the investment environment.
Separately, Minister of Electricity and Renewable Energy, Mahmoud Esmat, disclosed plans for the upcoming launch of the electrical interconnection project linking Egypt and Saudi Arabia by next summer.
This initiative seeks to establish a cooperative energy exchange system capitalizing on peak load disparities between the two nations. Esmat's announcement transpired during discussions with Saudi Arabia's Minister of Energy, Abdulaziz bin Salman bin Abdulaziz.
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