Saudi Arabia is Egypt’s top Gulf investor: minister

Saudi Arabia is Egypt’s first biggest investor regionally and second globally, with volume of investments worth more than 50 billion Egyptian pounds ($5.6 billion), Saudi minister of industry said Saturday.

Speaking at Saudi-Egypt Business Opportunities Forum kicked off in Cairo, Minister Tawfiq Al Rabiah further said Saudi investments in Egypt involve more than 3,000 companies working in the North African country’s industrial, agricultural, financial, and tourism sectors.

As Saudi King Salman is visiting the country, the Saudi-Egypt Business Opportunities Forum took place in Cairo on Saturday, aiming to review aspects of enhancing trade exchange and investment in various sectors between the two countries. The forum has witnessed the signing of several trade and investment agreements between Egyptian and Saudi investors.