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Tuesday, May 17, 2022

Riyadh, Cairo sign agreement on PIF investment in Egypt

Riyadh, Cairo sign agreement on PIF investment in Egypt

Minister of State and Cabinet's Member for Shoura Council Affairs Dr. Essam Bin Saad Bin Saeed and Egyptian Minister of Planning and Economic Development Dr. Hala Al-Saeed, who is also chairman of the board of directors of the Sovereign Fund of Egypt, signed here Wednesday an agreement with regard to the Public Investment Fund's investment in Egypt, in the presence of Egyptian Prime Minister Dr. Mostafa Madbouly.
The signing of the agreement comes as a culmination of the meetings held between the two countries, to complete the procedures related to investment in Egypt, through the PIF, within the framework of the two countries’ desire to strengthen economic ties and based on the directives of the two countries’ leaderships in this regard.

The agreement aims to enhance trade exchange between the two countries, and contribute to the expansion of the two countries' activities and investments in other countries at the regional and international levels.
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