6,225 Saudi industrial firms invest $30B in Egypt: Official

Abdulrahman Altawil, Deputy Minister of Municipal and Rural Affairs and Housing

A total of 6,225 Saudi industrial businesses are operating in Egypt with $30 billion worth of investments, which reflects their confidence in the Egyptian market, Abdulrahman Altawil, Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said.

Further, 518 Egyptian companies are operating in the Saudi market, alongside 285 Egyptian brands distributed across the Kingdom, Altawil added in a speech at the Saudi Egyptian Real Estate Conference, held in Riyadh.

The Saudi official stressed the solid economic and political relations between Saudi Arabia and Egypt, adding that the Kingdom is the top global and Arab investor in Egypt with more than $55 billion investments.