Cairo, Egypt – Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbiny, welcomed a delegation of Saudi investors today to discuss potential collaboration and investment opportunities in Egypt. The meeting was attended by senior ministry officials.
El-Sherbiny began the meeting by expressing appreciation for the strong ties between Egypt and Saudi Arabia, highlighting the directives from Egypt’s leadership to facilitate foreign investments and remove obstacles for investors. He praised the enduring partnership with Saudi Arabia, emphasizing Egypt’s readiness to provide full support and create a welcoming investment climate.
During the meeting, El-Sherbiny showcased Egypt’s comprehensive urban renaissance under President Abdel Fattah El-Sisi, detailing major housing projects such as the New Administrative Capital, New Alamein City on the North Coast, and New Mansoura. These projects were well-received by the Saudi delegation, who expressed keen interest in participating in similar initiatives.
The minister outlined Egypt’s investment mechanisms within new cities, which include various tiers designed to accommodate different types of foreign investments. Land allocations are managed through streamlined, direct channels to facilitate investment processes.
El-Sherbiny reaffirmed Egypt’s commitment to fostering a favorable investment climate, resolving challenges, and supporting investors. Collaborative efforts with the Egyptian Cabinet aim to eliminate hurdles and promote foreign investment.
The Saudi delegation commended Egypt’s ongoing urban development, expressing enthusiasm for contributing to several projects and injecting further investments. They emphasized the importance of bilateral relations, guided by the directives of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, which prioritize expanding cooperation between the two nations.
The delegation also shared insights into their current projects in Egypt, highlighting the role of political will in fostering strong ties and collaboration between the two countries.
The meeting concluded with an agreement to hold future workshops and discussions to explore investment opportunities further, ensuring swift implementation of practical steps to address the delegation’s needs.