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Business, Economy, Geostrategy

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Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt

Saudi Arabia is the top global and Arab investor in Egypt.
By TRENDS Desk
November 24, 2023 11:28 pm
  • At least 518 Egyptian companies are operating in the Saudi market, the minister said.
  • He said that over 285 Egyptian brands are spread out across the Kingdom.

RIYADH, SAUDI ARABIA – A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here.

This reflects their confidence in the Egyptian market, he said.

In a speech at the Saudi Egyptian Real Estate Conference, the minister said that 518 Egyptian companies are operating in the Saudi market.

He said that 285 Egyptian brands are spread out across the Kingdom.

Altawil also said that the economic and political relations between Saudi Arabia and Egypt are solid.

He said that the Kingdom is the top global and Arab investor in Egypt with more than US$55 billion worth of investments.

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