Saudi Arabia to pump $15 billion into Egypt’s economy

Posted on October 18, 2024   |  

Companies in Riyadh are set to invest up to $15 billion in Egypt over the next 3 years, strengthening economic cooperation.

A new agreement between Saudi Arabia and Egypt will protect and promote investments, encouraging more Saudi companies to invest in Egypt.

These investments will focus on key sectors such as energy, industry, real estate, and tourism.

The total Saudi private sector investments in Egypt are expected to grow to $50 billion.

More than 7,000 Saudi companies have already invested over $35 billion in Egypt’s economy.