Secretary General of the Saudi Egyptian Businessmen Association (SEBA) Ahmed Darwish said that around 85 percent of problems of corporates operating in Egypt as well as the association's companies were resolved upon year-long continuous efforts with the Egyptian Defense Ministry’s committee formed by governmental coordination with the Saudi embassy under Egyptian presidency’s sponsorship.
In remarks on Tuesday, Darwish said that some of the remaining problems are with the Egyptian Religious Endowments Ministry, while others are with companies owned by Saudi investors who have 3,500 acres in Sadat city.
Darwish stressed necessity to consider new investments volume of some countries that will expand their agricultural and industrial projects in Egypt, investing LE5 billion, in addition to the Saudi-Egyptian medical center project that will be carried out at 6 October city, where a major Egyptian university will take part as an educational partner.
In related news, the SEBA Deputy Chairman Sultan Darwish, the secretary general and several members of the association met with Investment Minister Ashraf Salman and tackled investment opportunities in Egypt as well as the new investment bill and the association’s participation in the economic summit slated for March.
