Cairo – Mubasher: Saudi Arabia’s Prince Khaled bin Talal bin Abdulaziz Al Saud on Monday said that he aims to set up special projects in Egypt's Sharm El Sheikh, expand some of the current projects, and support stumbling projects.
The Prince added, during his meeting with Egypt’s minister of investment Sahar Nasr, that the procedures taken by Egypt recently in developing the investment environment have encouraged him to invest in the country, a statement by the Ministry of Investment and International Cooperation showed.
Moreover, he praised the new investment law which emboldens investors to pump investments in Egypt, a country he hadn’t visited in years.
Similarly, Nasr highlighted the large number of investments currently in progress in Egypt including the new Administrative Capital, the New Suez Canal, added to some projects in South Sinai
The Egyptian-Saudi Business Council has raised investment in Egypt to $51 billion from the Saudi public and private sectors through a future plan to invest in the agriculture, tourism, energy, and real estate sectors, in addition to the Suez Canal development project, the Egyptian minister noted.
On Sunday, the ministry had announced that two Saudi investors were aiming to pump $2.2 billion investment in Egypt.
