A deal to be signed between the Kingdom and Egypt to encourage and protect mutual investments

Informed sources revealed that the Kingdom and Egypt are close to signing an agreement to protect and encourage mutual investments between the two countries.

According to the sources, the two sides held a virtual meeting this week, with Engineer Khaled Al-Falih, Minister of Investment, meeting Egyptian officials within days, according to Al-Arabiya.

The sources reported that among the points that need discussion are financial transfers, their size and quantity, in addition to the issue of resolving disputes, if any, while the most prominent sectors for investment in Egypt include; The real estate, industrial, tourism and agricultural sectors, in addition to sectors such as health and energy.

The meeting was attended by the Business Council of the Federation of Saudi Chambers of Commerce, Saudi officials and investors, in addition to a number of Egyptian officials.

During the meetings, Egyptian officials proposed the possibility of investors establishing projects and establishing companies in the Kingdom with 100% ownership, while the Saudi side’s response was that the current regulations guarantee this.