Al-Qasabi announces solving of 70% of problems faced by Saudi investors in Egypt

Saudi Gazette report

CAIRO — Saudi Minister of Commerce Dr. Majed Al-Qasabi stated that greater than 70 p.c of the issues confronted by Saudi traders in Egypt have been solved. “There are efforts by the Egyptian authorities to resolve the remaining issues, and there’s a new spirit and continued assist from the Egyptian Prime Minister Dr. Mustafa Madbouli to resolve these issues,” he stated.

Al-Qasabi made these remarks throughout his assembly with Madbouli in Cairo on Monday. Al-Qasabi arrived right here, heading a Saudi commerce delegation that features about 90 outstanding businessmen and senior executives of main nationwide firms. Either side mentioned methods to additional strengthen the Saudi-Egyptian financial and industrial partnership and commerce relations. Al-Qasabi famous that there are directives from Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman to extend Saudi investments within the Egyptian market.

He stated that three paths have been developed through the Saudi delegation’s conferences with excessive rating Egyptian officers and enterprise leaders and these paths might be labored out sooner or later. The primary path is funding within the industrial sector with the goal of integration, and alternatives might be recognized and priorities might be set, with the formulation of a street map. There’s a clear path to advertising these alternatives, and there was settlement between the chambers of commerce within the two nations and the businessmen on this regard.

Al-Qasabi stated the second path is for implementing initiatives of the Egyptian and Saudi ministries, by means of integration between the 2 governments. The third path is for formulating institutional work between the 2 nations that defines the function of the enterprise councils and chambers of commerce within the two nations, and the duties assigned to them.

The delegation accompanying Al-Qasabi included Bandar Al-Amiri, chairman of the Saudi-Egyptian Enterprise Council, and quite a lot of Saudi businessmen, in addition to Saudi Ambassador to Egypt Osama Al-Naqli.

In the course of the go to,Al-Qasabi met with a number of excessive rating Egyptian officers together with Egypt’s Minister of Commerce and Business Eng. Ahmed Samir, Minister of Worldwide Cooperation Dr. Rania Al-Mashat, Minister of Housing, Utilities and City Communities Dr. Assem El-Gazzar, CEO of Egypt’s Normal Authority for Funding and Free Zones Hossam Heiba.