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Saudi Gazette report
RIYADH — Saudi Investment Minister Khalid Al-Falih said that economic and legislative reforms will hopefully contribute to unprecedented investment flows to Egypt under Saudi leadership. “We will be partners with Egypt, not just investors,” he added.
Al-Falih stated that Egypt is one of the most important economic partners of Saudi Arabia, noting that the volume of trade exchange between the two countries amounted to more than 124 billion during the years 2022-2023.
He pointed out that the Saudi private sector is the largest investor in Egypt.
Al-Falih said the total number of licenses granted to Egyptian investors in Saudi Arabia amounted to about 5,767 licenses, explaining that the total investment licenses for the partners from Egypt grew by 100% in 2024. He said Egyptians fill more than 80,000 jobs in the Saudi economy.
He added: “We have almost finished putting the final touches on the agreement to encourage and protect Saudi investments in Egypt, and it will be presented to the Saudi government and Shoura Council soon.”
He said that the agreement will protect Saudi investments and is an invitation to reassure the Saudi private sector to invest in Egypt with government support.
There is also an open invitation for Egyptian investors to invest in Saudi Arabia to benefit from the opportunities available within the framework of Saudi Vision 2030.
