Egyptian Prime Minister Mostafa Madbouly began his visit to the Saudi capital Riyadh, on Sunday by meeting with the Saudi Minister of Investment Khaled al-Falih to discuss a number of investment topics of mutual interest, according to the Saudi Press Agency.
The Saudi Minister of Investment praised the efforts made by the Egyptian government to resolve the problems of Saudi investors operating in Egypt, saying: “As the Ministry of Investment, we conducted a census of Saudi investments abroad, and we found that Egypt is among the top five countries with Saudi investments outside its borders. Therefore, one of my tasks is to support the Saudi investors and provide protection for them, especially in brotherly countries like Egypt.”
He indicated that there is a tendency on the Saudi side to convert deposits into investments by the Public Investment Fund (PIF) – especially given that the fund’s investment experience in Egypt has been positive in a number of projects.
Once the meeting concluded, the Saudi Minister of Investment confirmed that arrangements are underway for a number of future meetings for the Prime Minister and his accompanying delegation with a number of Saudi investors.
