Saudi ambassador in Cairo , GAFI CEO discuss investment expansions 

Hossam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), met with Ambassador Osama bin Ahmed Naqli, Ambassador of the Kingdom of Saudi Arabia to Cairo, to discuss investment plans and Saudi investment expansions in Egypt.

The two sides discussed the Saudi investment plan in Egypt during the coming period. They also discussed organizing promotional tours for investment opportunities in Egypt and the Kingdom.

Hossam Haiba reviewed the executive position of the Saudi companies operating in Egypt and the investment agreements that were activated between the two sides during the last period, stressing the government’s full support for Saudi investments, which are distributed among all Egyptian economic sectors.

Ambassador Osama bin Ahmed Nuqli stressed the depth of the strong historical relations between the Kingdom and Egypt.

He also stressed the keenness of the Saudi side to develop areas of joint cooperation and strengthen strategic cooperation frameworks between the two brotherly countries, stressing the need for the Egyptian-Saudi partnership to go beyond the scope of the two countries to establish joint projects in the African continent and the Arab region.

The Egyptian-Saudi Committee agreed in 2021 to enhance cooperation between the two countries in a number of economic sectors.

The following are the most prominent prospects for cooperation between Egypt and Saudi Arabia:-

– Cooperation in the field of energy, industry, and mineral resources.

– Agreeing to discuss training and skill development.

– Exchange of experiences for specialists in all activities of the petroleum industry.

– Strengthening cooperation in the field of petroleum and refining energy between the two sides.

– Welcoming the exchange of experiences between the two sides in the field of liquefied natural gas.

The Saudi side, represented by the King Abdullah Center for Petroleum Studies and Research, proposed opportunities for cooperation in exchanging data that are compatible with improving knowledge of energy economics.

– Continuing cooperation in the field of participation in conferences, seminars, workshops, training courses, and technical visits between the mineral wealth sectors in the two countries, and benefiting from qualified expertise to enhance the use of technology in the field of mineral exploitation.

Presenting the available opportunities in the Arab Republic of Egypt in the mining sector to Ma’aden directly and the Saudi private sector through the Council of Saudi Chambers.

– Agreeing to arrange for the ninth meeting and sixth workshop for the Egyptian-Saudi cooperation team in the field of electricity in Cairo.

– Urging the concerned authorities in the two countries to complete the procedures for signing contracts for the electrical interconnection project, according to the planned timetable.

– Examining cooperation and investment opportunities available in the Egyptian and Saudi renewable energy markets.

– Exchanging experiences and knowledge between the two sides and forming a joint working group to develop joint programs and initiatives to promote the growth of the renewable energy sector in the two countries.

– Cooperation in building human capacities, acquiring experience, and designing training programs and joint workshops for workers in the sector from both sides, for example transferring technology in the field of technical, environmental, and economic studies in renewable energy projects.

– Emphasizing the continuation of the Saudi Fund for Development in providing development support to the Arab Republic of Egypt.

– The desire of the Saudi side to encourage Saudi-Egyptian partnerships to implement projects funded by the fund.

Activating Article 3 of the memorandum of understanding signed between the Ministry of Communications and Information Technology of the Arab Republic of Egypt and the Ministry of Communications of Saudi Arabia for cooperation in the field of communications and information technology regarding the formation of a joint committee to follow up on the implementation of the provisions of the memorandum of understanding, provided that it is convened as soon as possible.

Calling for the speedy completion of the final version of the memorandum of understanding between the National Telecommunications Regulatory Authority of the Arab Republic of Egypt and the Communications and Information Technology Commission of the Kingdom of Saudi Arabia for signature as soon as possible.

Activating cooperation between the two sides in the fields of integrated coastal management, marine policies, and environmental monitoring.

– Agreeing to set up a mechanism to activate and implement the cooperation agreement signed between the two sides in the field of environmental protection and pollution reduction.

– Activating the Egyptian-Saudi working group concerned with implementing the provisions of the Memorandum of Understanding for cooperation in the field of housing between the Ministry of Housing, Utilities, and Urban Communities in the Arab Republic of Egypt and the Ministry of Municipal, Rural Affairs and Housing in the Kingdom of Saudi Arabia.

– A call to speed up the signing of the final version of the executive program for bilateral cooperation between the Ministry of Housing, Utilities, and Urban Communities in the Arab Republic of Egypt and the Ministry of Municipal, Rural Affairs, and Housing in the Kingdom of Saudi Arabia, and a cooperation program between the Ministry of Housing, Utilities, and Urban Communities (General Authority for Building and Housing Cooperatives) in the Arab Republic of Egypt And the Ministry of Municipal and Rural Affairs and Housing (Kingdom of Saudi Arabia).

Emphasizing the importance of reaching the final version of the executive program for the cooperation program in the field of technical and vocational training signed between the two sides, with the identification of a liaison officer from both sides to discuss the final version of the program.

– Praise the level of cooperation between the two countries in the field of higher education, the provision of scholarships, and the conditions of students in the universities of the two countries.

– Examining the possibility of cooperation between the two sides in the fields of studying a partnership in establishing a research center at King Salman University for the Middle East and Africa in order to support the policies agreed upon between them.