“Investment in Egypt and the Promising Future”

This article was translated using artificial intelligence and the original language of the article is Arabic.

I followed the consultations and meetings held in recent days between His Excellency the Minister of Commerce, Dr. Majid Al-Qasabi, with the Egyptian Prime Minister and the Egyptian government, and the distinguished efforts of His Excellency the Custodian of the Two Holy Mosques’ Ambassador to Egypt, Mr. Osama Naqli, and the efforts of the Chairman of the Saudi side in the Saudi-Egyptian Business Council, Mr. Bandar Al-Amiri, and the agreements that have been made regarding facilitating and easing the directions of Saudi investments in Egypt, which have gone through some challenges and obstacles in previous years. However, thanks to the directives of the Custodian of the Two Holy Mosques King Salman and the Crown Prince, His Highness Prince Mohammed bin Salman, which were launched to provide all facilities and procedures for Saudi investors abroad or foreign investors in Saudi Arabia, in which our country has taken rapid and diligent steps that have contributed to directing investments worth billions of dollars to Saudi Arabia and also pumping billions of dollars from Saudi businessmen abroad.

Egypt comes as the first country to host 30 billion dollars of Saudi investments, which are expected to reach about 50 billion dollars in the next five years. I affirm that there is a new dawn regarding investment in Egypt after officials from both countries were able to monitor the obstacles, impediments, and problems that were causing some investments to be hindered or redirected, which will make Egypt a primary destination in the coming years. The meetings resulted in new contracts as a first step of about 3 billion dollars in the field of energy, housing, and real estate, which will revive the economic market of both countries, especially since there are nearly half a million Saudi citizens residing in Egypt, and about two million Egyptians residing in Saudi Arabia.

Due to my relationships and businesses in Egypt and my association with it for many decades and my experience of the reality of investment throughout those past years, and what investments between the two countries have witnessed in terms of rise, fall, recovery, and decline, the reality carries many good omens during the current year and the coming years after the points were clarified and all obstacles that were hindering the Saudi investor’s path in Egypt were removed and the Egyptian sectors benefited from the Saudi experience in investments on their lands, and the existence of unique leadership cooperation and planning between the two countries and popular cohesion, which created all the paths and tracks capable of making a promising future. I am certain that there is absolute conviction in Egypt and its wise leadership that has harnessed all capabilities to enhance foreign investment in general and Saudi investment in particular to reach amazing and distinguished results for the economy and development of both countries. I extend my thanks and appreciation to every individual in the Saudi delegation, from the Minister of Commerce and the Saudi Ambassador and the Chairman of the Saudi side in the Business Council for their efforts and diligent follow-up to all the details of investment plans, their reality and future. We are now reaping the fruits of exiting the dark tunnel of challenges. Saudi investments in Egypt will witness a qualitative leap towards removing all challenges. The Saudi and Egyptian investor have great confidence that they are facing a new beginning for a path full of optimism and hope that achieves their investment ambitions in the two countries. There is no doubt that the volume of investment in this prosperous era will be doubled with the passage of days and we will see a new shift in the world of investments between the two countries and the credit for this goes after God to the support and encouragement of the leadership of the two countries, each of which represents the Arab, regional and international strategic depth.