Saudi investment group studies new investments in Egypt worth EGP 4bn

A leading Saudi investment group is considering injecting new investments into the Egyptian market worth EGP 4bn, according to Minsiter of Industry and Trade Tarek Kabil. He added that the group is currently studying the market and conducting extensive feasibility studies to select the site and products that the company will manufacture.

This came during a meeting between Kabil and Prince Turki bin Mohamed bin Fahd Al Saud. During the meeting, the prince reviewed the activities of the company and the minister presented the opportunities and incentives for investment available in the Egyptian market.

Kabil noted that Egypt is full of huge investment opportunities in the fields of automotive manufacturing, pharmaceutical waste recycling, sugar production, and spinning and weaving. He highlighted the importance of investing in the products needed for the Egyptian market that are currently being imported in order to assist in the government’s plan to provide alternatives for imported goods.