Riyadh – Sharikat Mubasher: Saudi Minister of Investment, Khalid Al-Falih said that the commercial exchange between Saudi Arabia and Egypt exceeded SAR 124 million between 2022 and 2023, adding that a new agreement between the two parties is anticipated to protect and bolster mutual investment.

The Saudi Minister added that the volume of investment licenses granted to Egyptian businesses in Saudi Arabia grew by 100% within this year, in comparison to 2023, amounting to 5767 licenses, according to Asharq Business.

Al-Falih made his statement on the sidelines of a high-level visit by Egyptian Prime Minister Mostafa Madbouly to Saudi Arabia, along with Egypt’s ministers of finance and foreign trade, who are set to meet with several key Saudi figures in a series of discussions aimed at enhancing bilateral investment relations.

The PM and his delegation met with the Saudi Minister of Investment, to discuss enhancing investment opportunities and addressing mutual economic interests, as well as progress on new bilateral investment agreements.

During the meeting, Madbouly underscored the expansive investment partnership between Egypt and Saudi Arabia, emphasizing its role in delivering substantial economic benefits to both countries.

Madbouly stated: “Our collaboration has been fruitful, and the new agreement will provide additional assurances and incentives for investors.”