Saudi Arabia and Egypt Forge Stronger Economic Ties with Over $35 Billion in Investments

Saudi Arabia and Egypt Forge Stronger Economic Ties

The Egyptian capital hosted the Saudi-Egyptian Investment Forum, themed “Strategic Partnership for Development,” which underscored the robust economic relationship between the Kingdom of Saudi Arabia and the Arab Republic of Egypt. The event gathered senior officials, ministers, and business leaders from both nations, coinciding with the Saudi-Egyptian Business Council meeting organized by the Federation of Saudi Chambers of Commerce.
 
Key discussions focused on enhancing economic partnerships and utilizing each country’s comparative strengths. Current Saudi investments in Egypt have reached approximately $35 billion, with plans to escalate this figure to $50 billion over the next four years. 
 
In 2024, trade volume is projected to exceed 61.1 billion Saudi riyals ($16.3 billion), marking a significant 29% increase compared to the previous year. The Egyptian government highlighted that around 6,000 investment licenses have been issued for Egyptian firms operating in Saudi Arabia, providing jobs for more than 80,000 individuals across sectors including construction, industry, and trade.
 
A major advancement in the bilateral relationship came with the signing of the “Promotion and Protection of Mutual Investments” agreement during Crown Prince Mohammed bin Salman’s visit to Cairo in October 2024. This initiative aims to foster bilateral investments and create a secure legal framework for investors.
 
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