Mubasher: Riyadh-based companies plan to pump up to $15 billion in Egypt over three years, according to Asharq Business.
Saudi Arabia and Egypt signed an agreement to protect and encourage investments between the two countries, which opens the door for Saudi companies invest in the Arab Republic.
Bandar Al Ameri, Head of the Saudi-Egyptian Business Council, unveiled the joint agreement, adding that the coming few weeks will witness the official announcement of these investments.
The investments will cover key sectors, including energy, industry, real estate development, and tourism.
Accordingly, the total investments of the Saudi private sector in the largest Arab market in terms of the number of consumers will jump to $50 billion.
More than 7,000 Saudi companies operating in Egypt injected investments exceeding $35 billion.
