Saudi investment in Egypt increased during the first five months of this year to LE 675 million, official Egyptian statistics revealed today, according to Al-Sharq Al-Awsat ITALICS daily newspaper. The announced figure includes LE 417 million in internal investments and the rest in free-duty shopping.
According to the findings of the report, the volume of Saudi investment in the industrial sector amounted to LE 161.8 million, while the agricultural sector attracted LE 138 million and the tourism sector LE 81 million in investments.
Meanwhile, the kingdom of Saudi Arabia has been ranked 38th internationally in the World Bank international economic report.
The kingdom’s rank comes first among Arab states and second in the Middle East region in terms of business activities.
According to the World Bank’s report, the kingdom gained a top rank in flexibility of labor systems, where it came in 21st among the 175 international economies included in the report.
