Saudi Arabia 2nd largest investor in Egypt with $6.1 bln

The trade minister, who did not specify who the first largest investor is, made his statement at the end of a visit to the Saudi capital of Riyadh.

During the visit, the trade minister discussed means of promoting investment and economic ties with Saudi Minister of Industry and Mineral Resources Bandar bin Sultan Al-Saud, Minister of Trade Majid bin Abdullah Al-Qasabi and other senior Saudi officials, according to a statement by the Egyptian ministry.

The meetings tackled mechanisms for launching Egyptian-Saudi industrial partnerships in a large number of productive sectors.

These partnerships would benefit from the great potential of both countries, including specialised industrial cities and the availability of manpower and production inputs, the statement said.

They would be able to provide for the needs of the Egyptian and Saudi markets as well as export to a large number of regional and global markets, it added.