Federation of Saudi Chambers Clarify Saudi-Egyptian Business Council’s Strategy

The Federation of Saudi Chambers of Commerce clarified that the strategy of the Saudi-Egyptian Business Council, was formed to highlight the investment opportunities and incentives available, in the two countries, contribute to the protection of investments, strengthen agreements between the two countries, represent the business sector, at the national, regional and international levels in Egypt and work to Show the true size of Saudi investments, in Egypt, through official channels and work to strengthen them.

The goal is that the Saudi-Egyptian Business Council shall become the real umbrella for the Saudi private sector, in Egypt, in addition to strengthen the trade and investment partnership between the two countries, and contributing to increasing exports between the two countries.

“Federation of Chambers” indicated that Saudi investments in Egypt are constantly increasing, as about 6000 Saudi companies are operating in the Egyptian market, and the number of Egyptian companies investing, in the Kingdom, until the end of 2020 was about 1200 companies, and the two sides aspire to increase the trade volume and transactions’ movement between the two countries.

The federation indicated that efforts are being made to unify efforts between the Saudi-Egyptian Business Council and the Saudi Embassy in Egypt, to create an umbrella for the Saudi investor to preserve the gains of Saudi companies and investors there, as well as an agreement with the Egyptian General Authority for Investment and Free Zones, to confine the market value of Saudi investments, in Egypt, and to form a follow-up team to pursue ways to present new opportunities in the two countries.