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Saudi Arabia is the biggest investor in Egypt, and Cairo is taken into account the biggest Arab associate to the dominion based on financial analyst Mohamed Abdel Wahab.
Egyptians in Saudi Arabia pump almost US$10 billion yearly into the Egyptian financial system, Abdel Wahab, mentioned, including that relations between Saudi Arabia and Egypt are rising considerably,
Saudi Arabia had lately introduced inserting a 5 billion greenback deposit within the Central Financial institution of Egypt.
Throughout a Tuesday phone interview with presenter Mohamed Mansour, on the “Al Ro’ya” (Imaginative and prescient) program, Abdel Wahab defined that the current go to of Saudi crown prince Mohammed bin Salman included the signing of agreements to ascertain tasks price as much as eight billion {dollars}.
Abdel Wahab inspired Saudi businessmen to work in Egypt, particularly as it’s the largest market within the Center East and Africa a gateway to Europe.
He identified the Egyptian state has lately developed the infrastructure to offer a lovely surroundings for funding.
Egyptian President Abdel Fattah al-Sisi on Monday night obtained Prince Mohammed bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia at Cairo Airport, who arrived in Egypt for a two-day go to.
Final week, bin Salman left Egypt, after signing agreements price 7.7 billion {dollars}, heading to Jordan on a regional tour that additionally contains Turkey.
Saudi Commerce Minister Majed Al-Qasabi and the Egyptian Normal Authority for Funding and Free Zones introduced the signing of 14 agreements price $7.7 billion.
Throughout a phone interview to the “Cairo Speak” program, on Al Qahira Wal Nas channel, journalist Osama Saraya, former editor-in-chief of Al-Ahram newspaper, mentioned that the connection of Egypt and Saudi Arabia after the 1967 conflict has been very shut, and relies on very excessive professionalism between the 2 administrations.
He famous that the final go to of Saudi Crown Prince bin Salman on this manner reminds him of nice conferences between the 2 international locations after main occasions.
Saraya added that Egypt, Saudi Arabia and the UAE had been capable of return Arab international locations to the Arab unity after the Arab Quartet agreements.
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