CAIRO, Sept 19 (MENA) – Prime Minister Mostafa Madbouli said Thursday Egypt and Saudi Arabia seek to create a kind of integration and partnership and establish joint entities to enter new markets during the coming period, such as African markets, expressing his aspiration to increase foreign direct investment (FDIs) in Egypt during the coming period.

In press statements, he said in a press conference held after the weekly government meeting that the Saudi Minister of Investment referred to Egyptian investments in the Kingdom of Saudi Arabia as there are currently more than 5,700 Egyptian companies in the Kingdom.

The companies will invest in projects amount to 70 billion Saudi riyals.

In the same context, the Prime Minister pointed out that his meeting with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, addressed the issue of encouraging Saudi investment in Egypt during the coming period, touching on a point related to this matter, which is the completion of the draft agreement to protect and encourage joint Egyptian-Saudi investments.

Madbouly added that there was a common desire between Saudi Arabia and Egypt to complete a bilateral agreement as well with the aim of encouraging investments between the two countries. (MENA)
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