CAIRO - 27 November 2024: Egypt’s Minister of Investment and Foreign Trade, Hassan El Khatib, met with Saudi Arabia’s Minister of Investment, Khalid Al-Falih, during the 28th Annual World Investment Conference to explore ways to enhance economic cooperation between the two nations. The discussions focused on fostering bilateral investment opportunities and launching joint projects across key sectors of mutual interest, underscoring both countries' commitment to deepening their economic partnership.
El Khatib highlighted Egypt’s competitive advantages as a prime destination for Saudi investments, citing the availability of a skilled workforce, competitive wages, advanced infrastructure, reliable energy resources, and extensive free trade agreements. These agreements, he pointed out, grant Egyptian products unrestricted access to global markets. El Khatib also noted that Saudi Arabia remains one of the largest investors in Egypt, with investments spanning various sectors, and reassured that the Egyptian government is dedicated to resolving any challenges faced by Saudi investors.
The meeting also addressed the recently signed bilateral investment protection agreement, which El Khatib emphasized would enhance Egypt’s investment climate and attract further Saudi investments. In response, Al-Falih reiterated Saudi Arabia’s commitment to increasing economic cooperation and lauded Egypt’s proactive measures in addressing investor concerns, which he believes will soon lead to increased joint investments. Both ministers expressed optimism for the future of bilateral economic relations, reaffirming their shared commitment to advancing their economic goals.
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