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February 1, 2023
Business

Saudi Arabia, Egypt sign agreement on PIF investment in Egypt

The Saudi State Minister and Cabinet member for Shura Council Affairs, Dr. Essam bin Saad bin Saeed, and the Egyptian Minister of Planning and Economic Development, Dr. Hala Al-Saeed, who is also Chairman of the Board of Directors of the Sovereign Fund of Egypt, signed an agreement concerning the Public Investment Fund’s investment (PIF) in Egypt in the presence of Egyptian Prime Minister Dr. Mostafa Madbouly.

Saudi Arabia, Egypt sign agreement on PIF investment in EgyptIn consideration of the desire to strengthen economic ties between the two countries, and based on the directives of both nations’ leaderships in this regard, the two countries signed the agreement to complete the procedures related to investment in Egypt, through the PIF. This agreement aims to enhance trade and investment between the two countries and contribute to their expansion in other countries on a regional and international basis.

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