Saudi Crown Prince heads Delegation at Egypt Economic Summit

Prince Muqrin bin Abdulaziz Al Saud, Saudi Arabia’s crown prince and deputy prime minister, is heading the Kingdom’s delegation that will participate in Egypt’s economic summit, Saudi ambassador to Cairo Ahmed bin Abdulaziz Kattan announced.

The Egypt Economic Development Conference (EEDC) will take place from 13-15 March in the Red Sea resort of Sharm El Sheikh under the theme of “Egypt the Future”.

The prince will be accompanied with an official mission that will include ministers, key businessmen and investors, Kattan added.

The ambassador highlighted the deeply-rooted ties between the two countries, adding that bilateral cooperation is growing in several fields especially in economy.

KSA has initiated a call for such a conference to support Egypt’s economy, Kattan said, noting that KSA is regarded as the country’s biggest Arab investor.

Saudi Arabia’s late monarch King Abdullah had called in July 2014 for Egypt to host a donor conference to prop up its economy.

Saudi businessmen are gearing up to inject more investments in the Arab world’s most populous country, backed by confidence in the success of the conference in light of the country’s strong growth potential.