The General Authority for Investment and Free Zones (GAFI) hosted a Saudi investment delegation comprising representatives from the Ministries of Municipalities, Housing, and Investment, as well as the Saudi Contractors Authority (SCA), Invest-Gate reports.

The meeting was also attended by representatives of the Egyptian Federation of Construction and Building Contractors (EFCBC).

GAFI CEO Hossam Heiba said there are significant opportunities for investment cooperation between Egypt and Saudi Arabia, particularly in the construction sector, which has seen notable growth in both countries over the past years. He also pointed to promising joint prospects in several African markets, supported by Egypt’s investment and trade agreements and long-standing regional ties.

Heiba added that the integration between Egyptian and Saudi construction companies benefits both sides. The rapid growth of the Saudi market has enabled Egyptian firms to expand and gain experience, while the Egyptian market has welcomed major Saudi investments with sustainable, development-oriented projects and a high local component. He stressed that African markets offer fertile ground for further bilateral collaboration.

Mohammed Abdulrahman Abahussain, Deputy Minister of Investment in Saudi Arabia, stated that the upcoming investment protection agreement between the two countries would significantly enhance investment flows. He invited Heiba and Egyptian business leaders to attend the 7th Future Projects Forum in Riyadh this September, a key platform for showcasing major Saudi projects and exploring bilateral investment opportunities.

Abahussain also proposed a joint strategy to develop the construction sector, noting that Saudi Arabia has granted 7,000 investment licenses to Egyptian investors, which has created 80,000 jobs.

Eng. Mohamed Sami Saad, Chairman of EFCBC, emphasized the potential to connect industry players with educational institutions in both countries to enhance human resource management in the sector.