Minister of Investment holds series of intensive meetings with a number of Saudi officials to enhance joint economic cooperation
Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, held a series of intensive meetings with a number of Saudi officials, as part of his participation in the delegation accompanying Dr. Mostafa Madbouly, Prime Minister, on his current visit to the Kingdom of Saudi Arabia.
The Minister met with Khalid Al-Falih, Saudi Minister of Investment, to discuss opportunities for joint investment cooperation and to introduce investment opportunities in Egypt. The Minister also held a meeting with Dr. Hisham Al-Jaddai, Chairman of the Saudi Food and Drug Authority, in coordination with Dr. Tariq Al-Hobi, Chairman of the Egyptian Food Safety Authority, during which they discussed the creation of a mechanism for mutual accreditation of companies to facilitate trade between the two countries. The meeting also discussed some new procedures applied by the Saudi Food Authority on Egyptian meat exports.
The meeting also discussed how to benefit from the Saudi experience in reducing the release period for shipments, which directly contributed to facilitating the flow of goods and the release of goods.
The Minister also met with Mr. Raad Hassan, Vice President of ACWA Power Saudi Arabia, which is one of the largest companies in the Middle East in the field of energy solutions, new and renewable energy production, and desalination Seawater and green hydrogen production, to discuss the company’s new project in Egypt with an approximate investment cost of $1.5 billion.
It is worth noting that the size of the company’s investment portfolio in Saudi Arabia and various countries of the world exceeds tens of billions of dollars, for example in Uzbekistan alone $15 billion.
