Around 3302 Saudi companies are operating in Egypt, with total capitals worth US$23.9 billion, said the vice chairman of Saudi-Egyptian Business Council.
According to the most recent statistics by end of last October, Essam Nas Saudi Arab is investing in various sectors in Egypt, notably the industrial sector which captures the lion’s share of total investments, around 33.5%. Coming second, Saudi construction investments in Egypt seize 14.6% of total investments. Financing sector ranked third, getting 12.8% of total Saudi investments in Egypt, and then the tourism sector comes with 11.7% share. For the telecommunications sector, it ranked fifth, obtaining 11.5% of total Saudi investments in the North African country.
In addition, services sector took over 10.3% share of total Saudi investments in Egyptian market; while at the bottom of the list, the agriculture sector lies with 5.3% share.
The Saudi-Egyptian Business Council (SEBC) plans to invest in the Suez Canal Axis project, the golden triangle, North Coast Development, and the commodities exchange, Nas elaborated.