The Egyptian government seeks to provide a stimulating and attractive environment for local and foreign investment to deepen its partnership with the private sector, especially with the development movement that Egypt is witnessing, according to Finance Minister Mohamed Maait.
Maait’s remarks came on Monday during a meeting with Osama bin Ahmed Al-Naqli, the Saudi ambassador to Cairo, which was also attended by Hossam Hussein, the finance minister’s adviser on foreign relations; and Nasreen Lashin, Head of the Investor Support Unit.
“This [attractive business environment] will ultimately help to develop production, strengthen the structure of the national economy and create more work opportunities. As a result, the standard of living of citizens will improve, as well as the quality of the services provided to them, ”said Maait.
The Minister noted that the development that Egypt is currently witnessing in its institutional and legislative structure – especially in the modernization and automation of tax and customs systems – is in line with international standards to facilitate the services provided to businesses, save money. time and effort, and overcoming obstacles. It also improves domestic and foreign trade and stimulates investment in various sectors.
In addition, the state wishes to open wide investment horizons for Saudi investors and benefit from the investments offered by the Saudi Public Investment Fund (PIF) to lay the foundations for comprehensive and sustainable development.
For his part, Al-Naqli underlined his government’s willingness to increase the volume of Saudi investments in Egypt in light of the promising investment opportunities offered by the Egyptian government.
In addition, he highlighted the interest shown by the PIF as an investment arm of the Saudi government to work in Egypt and neighboring countries to consolidate economic cooperation with Egypt and other countries.
The two sides affirmed the strength of the strategic relations between the two countries and the aspiration of the political leaders of the two countries to strengthen and deepen the relations to ensure closer ties and elevate bilateral cooperation to separate levels.