By Mahmoud Salah Eddin
Cairo – Mubasher: Egypt’s government has suggested a number of projects to Saudi Arabia as investments into which the kingdom will inject around SAR 30 billion worth of investments over the coming three to five years, said Investment Minister Ashraf Salman.
The minister added that Saudi Arabia chose four sectors to invest in, namely housing, tourism, energy and agriculture.
Licenses were provided for the projects that were presented, said Salman, adding that due diligence is underway for these projects, after which market studies will be conducted by an independent advisor then joint ventures will be established.
Salman also said a coordination council will convene a meeting on 5 January.
In a related vein, the minister said the Egyptian government is considering the timing of holding the second international economic summit in the resort city of Sharm El Sheikh.
