70 Saudi investors to visit Cairo next week for investment opportunities

Last updated: January 22, 2018 9:03 pm

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Abu Dhabi, UNITED ARAB EMIRATES: Emirati and Arab men discuss the stock rates at the Abu Dhabi Stock Market 14 March 2006. Share markets in the oil-rich Gulf states, including the Saudi bourse -- the largest in the Arab world -- dived further today.The Saudi Tadawul All-Shares Index (TASI) dropped for the fourth day running, shedding 4.82 percent to end below the 15,000-point psychological barrier for the first time this year at 14,887.74 points. AFP PHOTO/STR (Photo credit should read STR/AFP/Getty Images)

An investment delegation consisting of 70 major Saudi companies will visit Cairo next week to discuss investment and trade opportunities.

Ahmed Al-Wakil, member of the Egyptian-Saudi Business Council, said that the council will hold a meeting on the sidelines of the Saudi delegation’s visit to explore increasing trade exchange and investments.

He added that the Saudi delegation will include a group of major investors, notably Abdullah bin Mahfouz, vice chairperson of the Saudi side of the Egyptian-Saudi Business Council.

Mahfouz said that the Saudi side is currently choosing the delegation’s members, refusing to disclose the names of the investors and companies due to visit Cairo.

He said that the visit aims at boosting trade and investment relations between the two countries, and following up the implementation of the agreements signed by Saudi King Salman bin Abulaziz Al Saud during his visit to Cairo in April 2016.