Riyadh – Sharikat Mubasher: A high-level Saudi business delegation arrived in Cairo to strengthen economic cooperation and explore new investment opportunities, as Saudi Arabia and Egypt formally activated their agreement to encourage and protect mutual investments.
The delegation, led by Hassan Al-Huwaizi, Chairman of the Federation of Saudi Chambers, includes more than 100 top investors and members of the Saudi-Egyptian Business Council Bandar bin Mohammed Al Ameri, according to the Saudi Press Agency.
The visit, part of the Saudi-Egyptian Business Forum, features bilateral meetings between Saudi companies and Egyptian officials, as well as field visits to major projects across Egypt. Key sectors under discussion include manufacturing, real estate development, tourism, free zones, and special economic areas.
Speaking during the forum, Al Ameri confirmed that over 85% of the challenges facing Saudi investors in Egypt have been resolved. He noted that more than 7,000 Saudi companies are currently operating in Egypt, with total private sector investments amounting to $35 billion. “There’s clear progress and strong momentum on both sides to advance our partnership,” he added.
The renewed push follows the signing of the investment protection agreement in October 2024 and the establishment of a joint coordination council during Crown Prince Mohammed bin Salman’s visit to Cairo. These moves are aimed at creating a more secure and dynamic investment environment.
Trade relations are also on the rise. According to Egyptian officials, bilateral trade grew significantly from SAR 29 billion in early 2023 to SAR 48 billion by year-end (approximately $13 billion USD). Saudi Arabia now ranks as Egypt’s seventh-largest trading partner, importing over 9% of its agricultural exports.
Al-Huwaizi’s delegation highlights Riyadh’s wider efforts to expand global business ties in line with Vision 2030. The Federation of Saudi Chambers has led similar investment missions to 13 countries in recent months, targeting new markets and enhancing Saudi Arabia’s international economic footprint.
As cooperation grows, both sides are optimistic that this visit will pave the way for deeper commercial integration and new opportunities that serve the long-term goals of both economies.
