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The Saudi Investors are studying the establishment of development bank (1 billion LE) for Egyptian people They deny freezing their investment with the previous government partners:
Saudi-Egyptian Business Council embraced the idea of Board of Directors Chief of Saudi Chambers (Saleh Kamel) in order to establish a development bank (1 billion LE) for Egyptian people. According to the private meeting of Saudi-Egyptian Business Council held yesterday in Jeddah Chamber (the commercial delegate Minister Said Al Anany), the Saudi investors losses in Egypt was operational and the capital investments were not affected. Dr. Abdullah Dahlan (the Chief of Saudi-Egyptian Business Council) added that the losses value are not estimated yet and need studies, referring that touristic investments and stock market are one of the most affected sectors, while the productive factories started to produce its products the same as before the happenings. He assured that Saudi business men must abide by the employees' salaries in the company in the pause period with regard to their protection of the Saudi investments during these events. Dahlan denied the freezing of Saudi investments with partners officials in the previous government. He assured that the meeting discussed the losses of Saudi investments in Egypt and the requests of Saudi and Egyptian governments not to touch the current investment and previous privileges by new laws are issued; they ask for respecting the governmental contracts with Saudi investments. Also, they asked for a comforting speech addressing the Saudi investors regarding this point as made with the international agreements, and informing the Egyptian banks to negotiate about the affected Saudi investments shares Dahlan revealed that there will be a permanent cooperation with Egyptian Chambers Union to provide all capacities for investors, exporters, importers plus providing financial funds to increase the commercial exchange between both countries.