Project Investors Union: Kuwait is the second largest Arab investor in Egypt with $15 billion

Engineer Alaa Al-Saqati, Chairman of the Small and Medium Enterprises Investors Union and Vice President of the Investors Union, confirmed that the thirteenth Kuwaiti Week in Cairo tomorrow will have a different character than all previous years, explaining that the economic developments that Egypt is witnessing carries with it huge investment opportunities for the Kuwaiti side, in light of the development The great achievement of the current Egyptian government in the infrastructure, legislative environment and business climate, in addition to the exchange rate developments and the sharp decline of the pound against the Kuwaiti dinar, which may magnify the economic feasibility of establishing joint projects at this time and before the pound prices rise again as it is. It is expected after Egypt completes growth and economic recovery plans from successive crises since the beginning of 2020.

Al-Saqati said that all production and service sectors in Egypt need more growth and are capable of achieving huge profits, whether the goal is to meet the needs of the local market demand, which contains more than 100 million consumers, or to export to international and Arab markets by exploiting the new Egyptian transport and logistics projects.

He added that joint Arab investment always acquires special importance related to the latent desire of all Arabs to achieve integration and establish strong Arab economic blocs that can face global challenges and achieve self-sufficiency in goods and services among them, pointing out that the State of Kuwait occupies the second position as the largest Arab country investing in Egypt. After Saudi Arabia, the volume of Kuwaiti investments in Egypt exceeds $15 billion.

Al-Saqati pointed out that the governments of Egypt and Kuwait are linked to political, economic and strategic relations based on a long history of joint cooperation in various fields and at all levels, which provides elements of safety and confidence for business communities on both sides to hold various partnerships at the individual level between investors and increase the volume of trade exchange between them.

The Union of Small Projects Investors, headed by Engineer Alaa Al-Saqati, thanked His Excellency Ambassador Ghanem Saqr, Ambassador of the State of Kuwait to Egypt and its permanent representative to the League of Arab States, for his kind invitation to attend the Kuwaiti Week in Cairo, wishing him success and looking forward to more cooperation between the two sides.

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