Hassan El-Khatib, Minister of Investment and Foreign Trade, held an extensive meeting with Abdulmohsin Alhokair, Chairperson of Abdul Mohsen Al Hokair Holding Group, which operates in entertainment, hospitality, and hotel projects, along with the accompanying delegation. The meeting focused on exploring investment opportunities in the Egyptian market, reviewing the group’s current projects, and discussing several future ventures the group is considering launching in Egypt in the coming phase.
The Minister emphasized that the Ministry is committed to providing all necessary support to Egyptian, Arab, and foreign investors, particularly those from Saudi Arabia. This support is aimed at increasing Saudi investments in Egypt and fostering joint projects that promote economic integration between the two countries. He noted that Egypt possesses many investment advantages that qualify it to attract more investments in various productive and service sectors. These advantages include a skilled labour force, qualified engineers, the availability of raw materials and energy sources, a strategic geographical location, and access to a large consumer market.
El-Khatib also highlighted the government’s focus on achieving industrial and investment integration between Egypt and Saudi Arabia, which would enhance the region’s economic standing. He pointed out that Saudi Arabia is one of the largest investors in Egypt across various sectors, and the Egyptian-Saudi Investment Agreement plays a crucial role in boosting joint investments between the two nations shortly.
For his part, Alhokair affirmed that the Egyptian market has all the necessary investment factors to attract more Saudi investments in diverse productive and service sectors, especially its large consumer market, excellent infrastructure, and availability of skilled labour. He added that Egypt serves as a gateway to the markets of Africa and Asia, and the group is keen on establishing more service-related projects in Egypt, including agri-tourism, health tourism, and entertainment ventures.
Alhokair also pointed out that there are excellent opportunities to establish more joint Saudi-Egyptian projects to meet the needs of both markets and export to African markets. Both countries are members of the Greater Arab Free Trade Area Agreement. Egypt is also a member of the African Continental Free Trade Area Agreement, offering preferential access to African markets for joint projects.
Hossam Heiba, CEO of the General Authority for Investment and Free Zones, and several ministry officials attended the meeting.
