This came according to an official statement by the Egyptian Cabinet, following the meeting between Saudi Crown Prince Mohammed bin Salman and Egyptian Prime Minister Mostafa Madbouly, yesterday, Monday, in the Saudi capital, Riyadh.
Bin Salman expressed his aspiration to hold the first meeting of the Coordination Council between the two sides, next October, after coordination between the two sides.
He appreciated the efforts made by the Egyptian government to solve the problems of Saudi investors during the past period, pointing out the importance of settling the remaining trade disputes related to Saudi investors, in a way that encourages more Saudi investment in Egypt.
He stressed the importance of the electrical connection between Egypt and the Kingdom, expressing in this regard his aspiration to provide more necessary facilities for companies operating in the field of new and renewable energy in Egypt.
For his part, Egyptian Prime Minister Mostafa Madbouly stressed that his visit and the accompanying delegation aim to support and strengthen economic relations between the two brotherly countries, praising the close cooperation between the two sides in various fields.
Madbouly explained that the Egyptian government succeeded in resolving most of the problems of Saudi investors in Egypt, as solutions were reached for about 90 of the challenges facing Saudi investors, and only 14 disputes remain that will be resolved during the coming period.
The Egyptian Prime Minister’s visit to Saudi Arabia aims to discuss joint cooperation files between the two countries, which Madbouly confirmed during his meeting with officials in the Kingdom, that the Egyptian government aims during the next stage to attract more new Saudi investments, especially in light of the unprecedented incentives it offers, including the golden license.
The governments of Egypt and Saudi Arabia intend to sign an agreement to protect and encourage investment soon, in light of their efforts to strengthen economic and investment relations and partnerships, at a time when the volume of trade exchange reached 124 billion riyals, equivalent to 33 billion dollars, during the years 2022-2023.
Source: RT
#Bin #Salman #directs #urgent #investments #worth #billion #Egypt
2024-09-17 14:01:01
How are Egypt and Saudi Arabia enhancing their economic cooperation?
Table of Contents
Egypt and Saudi Arabia Strengthen Economic Ties: A New Era of Cooperation
In a significant development, Egypt and Saudi Arabia have reiterated their commitment to strengthening economic ties between the two countries. This comes following a high-level meeting between Saudi Crown Prince Mohammed bin Salman and Egyptian Prime Minister Mostafa Madbouly in Riyadh, Saudi Arabia, on Monday.
A New Chapter in Bilateral Relations
During the meeting, Crown Prince Mohammed bin Salman expressed his enthusiasm for hosting the first meeting of the Coordination Council between the two nations in October, pending coordination between the two sides. This landmark initiative is expected to foster deeper cooperation and coordination on various economic fronts.
Resolving Investor Disputes
The Saudi Crown Prince commended the Egyptian government’s efforts to address the concerns of Saudi investors, noting the importance of resolving outstanding trade disputes to encourage greater Saudi investment in Egypt. The Egyptian government has made significant progress in this regard, with solutions already found for approximately 90% of the challenges facing Saudi investors, leaving only 14 disputes to be resolved in the coming period.
Electrical Connection and Renewable Energy
Crown Prince Mohammed bin Salman also emphasized the significance of Egypt and Saudi Arabia’s electrical connection, expressing his desire to provide necessary facilities for companies operating in the field of new and renewable energy in Egypt. This move is expected to enhance cooperation in the energy sector and promote sustainable development.
Strengthening Economic Relations
Egyptian Prime Minister Mostafa Madbouly reaffirmed that his visit, accompanied by a high-level delegation, aimed to bolster economic relations between the two brotherly countries. He praised the close cooperation between Egypt and Saudi Arabia in various fields, highlighting the importance of joint efforts to foster growth and development.
Egypt’s Success in Resolving Investor Disputes
Prime Minister Madbouly shed light on Egypt’s success in resolving the majority of Saudi investor disputes, citing the government’s effective measures to address concerns and create a more conducive business environment. This achievement is expected to boost investor confidence and attract more Saudi investment to Egypt.
A Brighter Future for Bilateral Cooperation
The Egyptian Prime Minister’s visit to Saudi Arabia marked a significant milestone in the strengthening of bilateral relations between the two nations. As both countries continue to work together to address outstanding issues and explore new opportunities, the prospects for economic cooperation and growth look increasingly promising.
Conclusion
The meeting between Crown Prince Mohammed bin Salman and Egyptian Prime Minister Mostafa Madbouly signals a new era of cooperation between Egypt and Saudi Arabia. With a focus on resolving investor disputes, enhancing economic ties, and promoting sustainable development, the two nations are poised to forge a stronger and more prosperous future for their citizens.
Keywords: Egypt, Saudi Arabia, economic ties, coordination council, investor disputes, electrical connection, renewable energy, bilateral relations, growth, development.
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Renewable energy. How are Egypt and Saudi Arabia planning to enhance their collaboration in renewable energy projects?
How are Egypt and Saudi Arabia Enhancing their Economic Cooperation?
In a significant development, Egypt and Saudi Arabia have reaffirmed their commitment to strengthening economic ties between the two countries. This comes following a high-level meeting between Saudi Crown Prince Mohammed bin Salman and Egyptian Prime Minister Mostafa Madbouly in Riyadh, Saudi Arabia, on Monday.
A New Chapter in Bilateral Relations
During the meeting, Crown Prince Mohammed bin Salman expressed his enthusiasm for hosting the first meeting of the Coordination Council between the two nations in October, pending coordination between the two sides. This landmark initiative is expected to foster deeper cooperation and coordination on various economic fronts.
Resolving Investor Disputes
The Saudi Crown Prince commended the Egyptian government’s efforts to address the concerns of Saudi investors, noting the importance of resolving outstanding trade disputes to encourage greater Saudi investment in Egypt. The Egyptian government has made significant progress in this regard, with solutions already found for approximately 90% of the challenges facing Saudi investors, leaving only 14 disputes to be resolved in the coming period.
Electrical Connection and Renewable Energy
Crown Prince Mohammed bin Salman also emphasized the significance of Egypt and Saudi Arabia’s electrical connection, expressing his desire to provide necessary facilities for companies operating in the field of new and
