Cairo — On Wednesday, Saudi Arabia and Egypt signed a joint draft on an agreement between the two countries; to enable the Public Investment Fund’s investment in Egypt.
Dr. Essam Bin Saad signed the agreement. He is the Minister of State and Member of the Council of Ministers for Shoura Council Affairs. Dr. Hala Al-Saeed Egyptian Minister of Planning and Economic Development, signed for Egypt. Dr. Mostafa Madbouly, the Prime Minister of Egypt, was also present.
The two sides stressed that this agreement stems from the close historical ties that unite the Kingdom and Egypt.
The deal based on the directives of the two countries’ leaders strengthens cooperation. It expedites procedures related to investment in Egypt through PIF.
The agreement is a culmination of the meetings held between the Saudi Public Investment Fund and Egypt’s Ministry of Planning and Economic Development.