The Egyptian Minister for Industry and Foreign Trade, Dr. Mahmoud Eisa, affirmed that Egypt is generally keen on Arabic investments, especially the Saudi ones, working to create a favourable business and investment climate in the upcoming phase.
He also added that he is carrying a message from Prime Minister, Dr. Essam Sharaf, to reassure the Saudi businessmen that the improvement of the economic and the security situation in Egypt will help the increase of investment rates.
Additionally, The Saudi Minister for Industry and Foreign Trade, Dr. Abdallah bin Ahmad, announced that he is carrying a message from the Custodian of the Two Holy Mosques, whose content shows that the kingdom is keen on expanding Saudi investments in Egypt, paying attention for cooperation through joint investments between the two countries.
That was happened at the first meeting of Saudi-Egyptian Business Council, after being restructured under the Chairmanship of Eng. Ibrahim Mahlab, President & CEO of the Arab Contractors Co.
The meeting took place in Jeddah on Saturday, August 13 and was attended by Ambassador Mahmoud Ouf - the Egyptian Ambassador to Saudi Arabia , Ambassador Ahmed Al Qattan –
Saudi Ambassador to Egypt, Eng. Abdullah Almitty - Chairman of the Board of Saudi Chambers, Dr. Abdullah Dahlan - chief of Egyptian-Saudi Business Council and a number of Saudi investors.
In his opening speech, The chief of the Egyptian side of the Council, Eng. Ibrahim Mahlab, confirmed that the rise of Egypt is its goal now, which strongly depends on the attraction of Arab and foreign investments.
He pointed that that Saudi investments ranked first place among the Arabian countries and second one among other countries.
He stated that Egypt is holding its arms wide opened to its brothers, because economic development will occur in better conditions and in a more pure, transparent, and fair atmosphere, pointing out that Egyptian laborers have played a leading role in the Kingdom’s development in both public and private sectors. Mahlab stressed on Egypt's keenness on the continuation of its role and its presence in this period that is witnessing a variety of changes unprecedented in all fields at the Kingdom that will strengthen the brotherhood relations between the two people.
At the end of the meeting, both sides agreed to push the investment relations between the two countries and to activate the role of the Joint Council to increase their trades in goods, services, construction, and also to support micro, small, and medium-size enterprises, technical training, scientific research, software, agriculture, and pharmaceutical industries,too. A working group can be formed to resolve investors problems for both sides.