ICEC

Now is the best time to invest in Egypt, says Saudi official

There is no more opportune time to invest in Egypt than the present time, said Saudi-Egyptian Business Council’s deputy chairman, Abdullah bin Mahfouz.

About 4,776 Saudi companies are operating in the North African nation with $27 billion in investments, according to the statement of Investment and International Cooperation ministry.

The Arab world’s most populous country, in collaboration with the International Monetary Fund (IMF), has implemented an economic reform programme including currency float and cutting fuel subsidy in an effort to revive its economy.

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