Ahmad 
Muteb Al-Shathri, representative of the Saudi Public Investment Fund, announced that the fund’s investments in Egypt amounted to $3 billion.
This came during a meeting that brought together Dr. Mostafa Madbouly, Prime Minister of Egypt, and Eng. Khalid Al-Falih, Saudi Minister of Investment, in the presence of a delegation of senior officials from both countries.
Al-Shathri stressed during the meeting the importance of the existing cooperation between the Saudi Fund and the Egyptian Sovereign Fund, noting that the offering program adopted by the Egyptian government constitutes a strong foundation for this cooperation, as it resulted in fruitful partnerships between Egyptian and Saudi companies.
For his part, Dr. Mostafa Madbouly stressed the Egyptian government’s commitment to supporting and enhancing joint investments between the two countries, noting that 70% of the problems of Saudi investors in Egypt have already been resolved.
Madbouly added that the Egyptian government is working to facilitate all procedures related to Saudi investments to attract more new investments.
Saudi Minister of Investment Khalid Al-Falih also indicated that the Kingdom of Saudi Arabia is the largest investor in Egypt, expressing the Kingdom’s desire to increase the investments of the Saudi Public Investment Fund in the country.
Al-Falih stated that there is a trend to convert Saudi deposits in Egypt into new investments, which reflects the mutual trust between the two countries.
In this context, Bandar Al-Ameri, Chairman of the Egyptian-Saudi Business Council, confirmed that the efforts made to solve the problems of Saudi investors in Egypt have achieved tangible progress, expressing his hope that an agreement to encourage and protect investments between the two countries will be signed soon.
Al-Ameri pointed out that this agreement will have significant positive effects on enhancing Saudi investments in Egypt.
Finally, Dr. Mostafa Madbouly stressed the importance of accelerating the completion of the terms of the joint investment protection agreement, stressing the need to intensify efforts to achieve economic integration between Egypt and Saudi Arabia in various fields.
The Algerian President ends the duties of his ambassador to Egypt a week after his appointment