Saudi Arabia to Invest $15 Billion in Egypt’s Key Economic Sectors

KSA, 18 October, 2024 : Saudi Arabia plans to invest up to $15 billion in Egypt over the next three years, as reported by Asharq Business. This announcement follows a newly signed agreement aimed at protecting and encouraging investments between the two nations.

Bandar Al Ameri, Head of the Saudi-Egyptian Business Council, stated that the official announcement of these investments will occur in the coming weeks. The funds will target key sectors, including energy, industry, real estate development, and tourism.

With this initiative, total investments from the Saudi private sector in Egypt are expected to reach $50 billion. Currently, over 7,000 Saudi companies in Egypt have already invested more than $35 billion.

Source : www.zawya.com