CAIRO – Kuwaiti ambassador in Cairo Ghanim Saqr Al-Ghanim said Kuwaiti government is currently studying a group of investment opportunities to pump into Egypt, noting there is an upcoming visit by the Kuwaiti Minister of Finance to Egypt to discuss the new investments.
He stressed that there are directives from the Emir of the State of Kuwait, Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, to direct investments to Egypt, following his meeting with President Abdel Fattah El Sisi in Cairo in April.
This came during the open meeting organized, by the Arab and Foreign Affairs Committee, headed by Hussein Al-Zanati, at the Journalists Syndicate for the Kuwaiti Ambassador under the title: “Egypt and Kuwait: A Common Destiny in a Changing World.”
Kuwaiti investments in Egypt rank third, after Saudi Arabia and the UAE, he said, indicating that Kuwaiti investments in Egypt are diverse and in many fields, including tourism, oil, and real estate, in addition to infrastructure projects, and that there are many Kuwaiti companies operating in Egypt in banking, agriculture, and various aspects of investment.
Al Ghanem said trade exchange between Egypt and Kuwait is constantly growing, noting that Kuwaiti investments in Egypt amounted to 20 billion dollars, and that there are 50 projects implemented by the Kuwait Fund for Development in various Egyptian cities.
There are more than 100 Kuwaiti companies operating in Egypt.
Egypt had the greatest role in supporting Kuwait’s progress for many years before the oil era, and there were Egyptian missions to Kuwait and during independence, Egypt stood and supported Kuwait in its independence and supported it in various fields, even the military field to ensure Kuwait’s independence.
“Until now, the Egyptians are contributing to the development of Kuwait, as there are more than 650,000 Egyptians working in Kuwait to build and develop Kuwait alongside the Kuwaitis in various fields,” he pointed out.
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