Egypt and Saudi Arabia strengthened economic ties by signing four strategic agreements across vital sectors. These deals aim to boost cross-border investments and foster sustainable growth.
Ahmed Samida, CEO of Business City Group, and Hend Aloni, CEO of GCC Capital Partners Saudi Arabia, signed the first MoU. This partnership focuses on poultry production and attracting foreign capital to Egypt’s agricultural sector.
Expanding Aluminum Production Capabilities
Fayadh Al Anzi of ASAS Holding Group and Osama Hanafi of Alcotech Engineering Industries finalized the second deal. They will build a 10,000-square-meter factory to produce 3.60 million meters of aluminum panels annually.
Mohamed Kamal El-Din Othman of Nano Volt and Amash Al Dafeen Al Subaie of Aamal Al-Yusr Company sealed the third agreement that promotes solar panel sales and installations in both nations.
Abdullah Al Ajmi of Yafl Real Estate and Omar Abdel Hay of Horizon Capital inked the fourth MoU. This pact focuses on streamlining real estate management and expanding development projects.
Forum Highlights Growing Bilateral Synergy
The Egyptian-Saudi Investment Forum hosted the signings, with GAFI CEO Hossam Heiba overseeing proceedings. These agreements underscore both nations’ commitment to diversifying economic collaboration.
This collaboration follows Saudi Arabia’s Vision 2030 and Egypt’s development goals, aligning efforts to drive innovation and job creation across regional markets.
