On September 16th, the Egyptian Cabinet issued a statement stating that Saudi Crown Prince Mohammed bin Salman has instructed the Saudi Public Investment Fund to invest $5 billion in Egypt.

It is reported that this statement was made a few hours after the Crown Prince met with Egyptian Prime Minister Mustafa Madbri in Riyadh.

However, the statement did not disclose further details about the investment funds. Reuters contacted PIF for comment, but the sovereign wealth fund did not immediately respond to the request.

Madbury stated that the Egyptian government has successfully resolved most of the issues faced by Saudi investors in Egypt, with only 14 disputes remaining to be resolved in the near future. Madbury told reporters: "We are working hard to finalize an agreement to protect joint investment, which will help increase investment between the two countries. In addition to Saudi Arabia's investment in Egypt, there are also a large number of Egyptian investment companies operating in Saudi Arabia." Key words: the Belt and Road news, the Belt and Road projects, overseas projects.

In August 2022, PIF established the Saudi Egypt Investment Company to invest in the most promising industries here, including real estate, healthcare, financial services, food and agriculture, manufacturing, pharmaceuticals, and more. (This article is from the official website of Jian Dao: www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website mechanical column editor/Zhou Yingwen