Skip to content Skip to Search
Skip navigation

Saudi Arabia’s investments in Egypt hit over $6bn

India Reuters
Bilateral trade exchange rose 41.3 percent year-on-year to $4.572 billion in 2021

Saudi Arabia has invested $6.1 billion into 6,017 projects across Egypt, becoming the second largest investor in the country, local media reported.

The kingdom’s investments cover various sectors, including industry, construction, tourism, agriculture, services, finance, communications and information technology, Arab News reported, citing Egypt’s minister of trade and industry Ahmed Samir.

Bilateral trade exchange rose 41.3 percent to $4.572 billion in 2021, compared to $3.236 billion in 2020.

In August, Saudi Arabia’s sovereign wealth fund, Public Investment Fund, launched the Saudi Egyptian Investment Company to invest in promising Egyptian sectors.

As part of the launch, ministers discussed ways to enhance investment cooperation between the two countries. Talks also locked at ways to launch Egyptian-Saudi industrial partnerships in various production domains.

Saudi Arabia is the top exporter among Arab nations with exports worth $6.4 billion, followed by Kuwait, the UAE and Oman with exports worth $2.4 billion, $2.2 billion and $625.7million, respectively, the newspaper said, citing the Egyptian Central Agency for Public Mobilisation and Statistics.

In November, state-run Saudi Press Agency reported that the Kingdom is exploring investment opportunities in Egypt’s improving real estate landscape.

Latest articles

Over the first half of the year Sanad Group signed deals with international airlines including Asiana Airlines and Deucalion Aviation

Mubadala-backed Sanad Group reports 53% revenue growth

Sanad Group, the Abu Dhabi-based global aerospace engineering and leasing company, has seen revenues increase by more than half over the first six months of the year. Figures released to AGBI show revenue totalling AED2.3 billion ($620 million) was reported in the first half of the year, up from AED1.5 billion over the same period […]

Malaysia’s HSS Engineers Berhad and its emirati consultancy HSS signed the deal top oversee construction with the Baghdad municipality

UAE company in joint venture to build Baghdad metro

A Malaysian engineering company and its UAE affiliate have jointly won a $316 million contract to oversee the construction of the new Baghdad metro. The building of the planned 148-kilometre network and its 64 stations across the Iraqi capital was slated to begin this month and end in 2029. This timeline might be delayed, however, […]

Amanat's listing represents the third education IPO in the UAE over the past two years

Amanat to list its education platform

Amanat Holding, an investment company in Dubai, has announced plans to list its education platform. The move will be the third education-related initial public offering in the UAE in the last two years, following the listing of Dubai’s Taaleem in 2022 and Abu Dhabi’s Alef Education earlier this year. Amanat, which specialises in healthcare and […]