Egypt Expresses Support for Saudi Arabia’s FIFA World Cup Readiness and Economic Ties
Egypt’s Prime Minister Mostafa Madbouly and Saudi Minister Bandar Alkhorayef discussed enhancing industrial cooperation and Saudi support for the 2034 FIFA World Cup, emphasizing joint projects, investments, and resolving investor challenges to strengthen bilateral ties.
On Monday, Egyptian Prime Minister Mostafa Madbouly convened a meeting with Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, at the government headquarters located in the New Administrative Capital. The primary focus of this meeting was to enhance collaboration between the two nations in the industrial and mining sectors. Several high-ranking officials, including the Deputy Prime Minister for Industrial Development, Kamel Al-Wazir, were present during the discussions.
Prime Minister Madbouly expressed Egypt’s readiness to assist Saudi Arabia in preparing for the 2034 FIFA World Cup. He enthused, “All Egyptian companies will be fully prepared to participate in the various projects and works required as part of the Kingdom’s preparations for this prestigious event,” thus demonstrating Egypt’s commitment to the success of the tournament.
In addition to discussing World Cup preparations, Madbouly hoped the establishment of the Egyptian-Saudi Higher Coordination Council would significantly boost Saudi investments in Egypt. He pointed out that this initiative would open doors for numerous joint projects in the industrial and mining industries, further solidifying their partnership.
The Prime Minister encouraged Saudi investment within Egypt’s industrial sector, highlighting that the country presents a plethora of promising investment opportunities. “Egypt offers a wealth of promising investment opportunities in the industrial sector, from which Saudi companies can greatly benefit,” Madbouly noted, citing Egypt’s favorable trade agreements which allow Saudi businesses to access new markets.
Moreover, Madbouly commended the existing cooperation between the two nations in petroleum and mining, indicating efforts to enhance exploration, particularly in gold mining, where Saudi firms are already engaged in Egypt. He urged Saudi investors to tap into opportunities within the oil, gas, and petrochemical sectors, recognizing Saudi Arabia’s expertise in these fields.
In discussing challenges for investors, Madbouly reassured that the Egyptian government is committed to resolving any issues encountered by Saudi investors. He remarked, “The Egyptian government is dedicated to addressing any issues encountered by Saudi investors in Egypt, and we continue to work closely with them to ensure a smooth investment climate.”
Saudi Minister Alkhorayef reiterated his country’s dedication to strengthening ties with Egypt. He praised the formation of the Egyptian-Saudi Higher Coordination Council and the mutual investment protection agreement aimed at enhancing bilateral investments and trade. He noted significant interest among Saudi businesses in Egypt and expressed appreciation for the Egyptian government’s efforts in resolving outstanding issues affecting their investors.
This meeting represents a substantial advancement in the strategic industrial cooperation between Egypt and Saudi Arabia, with both countries committed to amplifying trade and investment across various sectors.
The article discusses a meeting between Egyptian Prime Minister Mostafa Madbouly and Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef, focusing on enhancing industrial and mining collaboration between Egypt and Saudi Arabia. This conversation aligns with Saudi Arabia’s preparation for hosting the FIFA World Cup in 2034. Both leaders expressed their commitment to fostering investments and strengthening bilateral ties.
In conclusion, the meeting between Prime Minister Madbouly and Minister Alkhorayef underscores the commitment of both nations to enhance their industrial cooperation and increase investments. The discussions highlighted the potential for collaboration in various sectors and the role of Egypt in supporting Saudi Arabia’s preparations for the 2034 FIFA World Cup, indicating a promising direction for future partnership.
Original Source: www.dailynewsegypt.com
