Saudi Arabia to launch public investment fund in Egypt

Sami Hegazi
1 Min Read

Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of an agreement between the governments of Egypt and Saudi Arabia on the establishment of a Saudi Public Investment Fund in Egypt.

Minister of Planning and Economic Development Hala El-Said, Chairperson of the Board of Directors of the Egypt Sovereign Fund Ayman Soliman, and Essam bin Saad bin Saeed — the Saudi Minister of State and Member of the Council of Ministers for Shura Council Affairs — signed the agreement.

It was confirmed that this agreement stems from the close historic ties between Egypt and Saudi Arabia and based on the directives of the leaders of the two countries to strengthen cooperation, take all measures that would support their relations, and expedite the completion of investment-related measures in Egypt through the Saudi Public Investment Fund.

The agreement is also a culmination of meetings between the Saudi Public Investment Fund and Egypt’s Ministry of Planning and Economic Development.

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