Egyptian-Saudi Association Settles Dilemmas of 31Firms with EGP9bn

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The Egyptian-Saudi Businessmen Association said the total number of firms which have settled dilemmas in the Egyptian market in the last August reached 31 Saudi firms with EGP9 billion investments, the Association’s General Secretary Ahmed Darwish Sabry asserted.

Speaking to Amwal Al Ghad,Sabry explained that the Association is working to settle the crises of around 10 firms with EGP5 billion investments.

Most of dilemmas which are facing these firms representing in the aggravation of bureaucracy elements such as extending the period of obtaining licences as well as issuing some judicial provisions which commit to return some firms to the country most notably Omar Afandy Company.

Furthermore, he stated that there are several sectors with intensive demand rate from the Saudi investors represented mostly in the service sector by 37% from Saudi investors’ interests along with the agriculture sector with 13% .

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