Egyptian businessmen are seeking investment partnership opportunities with their Saudi counterparts.

Aleqtsad.Jeddah

A group of Egyptian businessmen gathered this evening with their Saudi counterparts at the Egyptian Consulate General in Jeddah, in the presence of His Excellency Dr. Ahmed Abdel Mageed, the Consul General of the Arab Republic of Egypt in the Kingdom.

The meeting focused on discussing the available investment opportunities in both countries, emphasizing the importance of enhancing economic cooperation between Egypt and Saudi Arabia.

Consul General Dr. Ahmed highlighted that this meeting comes within the framework of strengthening bilateral relations and enhancing economic cooperation between the two countries, in light of the promising investment opportunities in Egypt and Saudi Arabia, which would foster important investment alliances between the business sectors in both countries.

The meeting reflects the commitment of both countries to enhance bilateral relations and strengthen economic cooperation between them. It is expected that this dialogue will contribute to boosting trade and investment between the two countries, exchanging expertise and technology, and enhancing cooperation in various fields such as industry, construction, tourism, technology, agriculture, and energy.

Currently, both sides are working on developing joint strategies to increase the volume of trade and investments between the two countries, facilitating business procedures, and enhancing a suitable business environment for investors in both countries.

These efforts come within the framework of the shared aspirations to enhance economic cooperation and achieve sustainable development in both countries, as well as promoting economic and social stability in the region as a whole.

Dr. Khaled Hafez, the head of the Egyptian businessmen delegation, expressed the importance of this meeting in enhancing investment opportunities for the Egyptian business sector. The meeting was attended by members of the Alexandria Businessmen Association, which includes 25 businessmen from various industrial, technological, and commercial sectors.

Dr. Hafez praised the significant developments taking place in the investment climate of the Kingdom of Saudi Arabia, thanks to the support of the Saudi government and its Vision 2030. He noted that this vision has provided numerous facilities for investors, thereby promoting the utilization of available opportunities in the Kingdom.

Dr. Hafez affirmed that the Saudi economy is one of the promising opportunities and attracts the attention of investors, thanks to the substantial support, the speed of procedures, and their ease. He also mentioned that the Alexandria Businessmen Association provides financial facilities for small and medium-sized enterprises, which constitute the majority of the youth. Around 630,000 beneficiaries, with a collection rate of up to 99.1%, benefit from these facilities.