Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef began an official visit to Egypt on Sunday, to strengthen bilateral relations, the Saudi Press Agency reported.
The visit aims basically to explore several investment opportunities in strategic sectors such as food and pharmaceuticals.
The minister is set to hold meetings with various government officials and leaders from Egyptian public and private sector to present Saudi investment opportunities and bolster the bilateral cooperation.
In the light of this, the discussions will focus on the competitive advantages of the Saudi investment environment as well as the incentives offered to investors.
During the visit, Alkhorayef and his delegation will tour key industrial projects in Egypt, such as Beyti, an Almarai subsidiary, to learn more about its endeavors to develop local communities and localize supply chain.
Furthermore, they will visit Egyptian pharmaceutical facilities to leverage from the Egyptian pharmaceutical manufacturing experience.
It is worth mentioning that this visit comes after a previous official visit to support the Saudi-Egyptian relations and unleash new avenues of cooperation and investment.
Therefore, the current visit will follow up agreements and deals signed between both countries during the previous visits.
In 2023, Saudi non-oil exports to Egypt surged to SAR9.9 billion, while non-oil imports from Egypt recorded SAR9.6 billion.
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