Arab News, Saturday, Apr 17, 2021 | Ramadan 5, 1442
More than 6,000 Saudi companies operating in Egypt
Saudi Arabia:
There are 6,017 Saudi companies in Egypt, with investments of SR122 billion
($32.5 billion), according to data from the Egyptian General Authority for
Investments.
The total paid-up capital of these companies is SR82 billion, said Dr. Saleh
Bakr Al Tayyar, legal counsel for the Saudi-Egyptian Business Council, citing
data from the Authority.
The Kingdom ranks second in the Arab world in terms of participation in foreign
projects in Egypt, and in terms of the number of foreign companies invested, he
said.
Abdel Wahab, CEO of the Authority, said that obstacles to further investment in
Egypt from Saudi companies, will be removed, Al Watan newspaper reported.
Trade between the two countries reached SR26 billion in 2019, Wahab said.