Saudi PIF to Pump Investments in Egypt

Saudi PIF to Pump Investments in Egypt

Minister of Investment and International Cooperation Sahar Nasr agrees with the Saudi Public Investment Fund of Saudi Arabia (PIF) Chairman Yasir Othman Al-Rumayyan to speed up the injection of new investments in the fields of agriculture, tourism, industry, health, education, construction, and renewable energy in Egypt.

This comes within the Egyptian-Saudi Business Council’s framework to increase investments in Egypt to reach USD 51 bn from both Saudi public and private sectors.

During a meeting with several heads of Arab funds, including the Saudi Fund for Investment (SFD), Nasr highlights the importance of receiving the rest of tranches of a USD 1.5 bn loan from King Salman Bin Abdul-Aziz Program to finance development projects in Sinai Peninsula.

In her statement, Nasr says, “The Egyptian government is working on creating an attractive investment climate, providing proper incentives and guarantees to investors.”


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