Head of the Egyptian side to the Egyptian-Saudi Business Council Abdel Hamid Abu Moussa said the council seeks to increase the participation of the private sector in the national mega projects and enter into joint industrial partnerships to create new job opportunities for youth.
He said the council also seeks to launch joint projects and facilitate the entry of Saudi products to African markets through Egypt, pointing out that new Saudi investments will be pumped into the Egyptian market during the coming phase.
Despite the coronavirus crisis, which has affected the entire world, the volume of trade between the two countries surpassed last year $5.5 billion, said Moussa, adding that the kingdom is one the top investors in Egypt with investments hitting roughly $30 billion.
For his part, Head of the Saudi side to the council Bandar al Amry said the two countries have a real desire to overcome challenges that hinder the increase of joint investments.
He said more than 6,000 Saudi companies are working in Egypt with investments exceeding $35 billion.
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