During the signing ceremony between Egypt and the Saudi Investment Fund – Press Photo

CAIRO – March 30, 2022: Prime Minister Mostafa Madbouly attends the signing ceremony of an agreement between the Egyptian government and the Kingdom of Saudi Arabia regarding the investment of the Saudi Public Investment Fund in Egypt.

The Minister of Planning and Economic Development, Chairman of the Board of Directors of the Egyptian Sovereign Fund, Hala el-Said, signed on behalf of the Egyptian government, and on behalf of the Government of the Kingdom of Saudi Arabia, Issam bin Said, member of the Council of Ministers, the Minister of State for Shura Council Affairs signed the agreement.

The signing of this agreement crowns the meetings held between the two brotherly countries to expedite the completion of procedures related to investment in Egypt through the Saudi Public Investment Fund.

This is part of the two countries’ desire to strengthen economic ties and relations between them, based on the directives of the leaders of the two countries in this regard, in order to create favorable conditions and greater opportunities for more investment in Egypt.

The signed agreement aims to encourage and support the Saudi Public Investment Fund to invest in Egypt and contribute to the achievement of Egyptian goals by attracting foreign currency investment, supporting the use of labor nationally, localizing modern technologies in the Egyptian economy and transferring expertise. related to the Fund’s investments in Egypt.

This will strengthen trade between Egypt and Saudi Arabia and contribute to the expansion of the activities and investments of the two countries in other countries at the regional and international levels.