Al-Khateeb: Rate of Foreign tourists coming for recreational purposes soars 600% in 5 years    Saudi Arabia participates in OIC anti-corruption agencies' meeting in Qatar    Saudi Arabia implements over 800 reforms to drive rapid transformation    Al-Jadaan: Painful decisions were part of the reforms, but economy overcame them    Al-Swaha: Saudi Arabia is heading towards exporting technology in the next phase    Israel-Hezbollah ceasefire appears to hold as Lebanese begin streaming back to their homes    Al Rajhi: Saudi Arabia sets revised unemployment target of 5% by 2030 "300,000 citizens employed in qualitative professions"    Imran Khan supporters call off protest after crackdown    Five survivors found day after Red Sea tourist boat sinking    Russia launched a record number of almost 200 drones toward Ukraine    Al Hilal advances to AFC Champions League knockout stage despite 1-1 draw with Al Sadd    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Saudi FM attends Quadripartite meeting on Sudan in Italy    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt keen to attract Saudi investors
Published in The Saudi Gazette on 10 - 07 - 2011

The Egyptian government is keen to offer all support to attract Arab investors, especially Saudis, amid positive indications about the restoration of security and stability to the Egyptian streets, Industry and Foreign Trade Minister Samir El-Sayyad said.
The Egyptian-Saudi business council needs to be restructured in order to play a more active role in the coming phase to increase joint ventures carried out by the private sector in both countries, Sayyad said during a meeting with head of the Saudi side of the council Abdullah Dahlan and head of the Egyptian side Ibrahim Mahlab Thursday.
Earlier, the European Investment Bank (EIB) will discuss means to foster cooperation with the Egyptian government to boost the national economy, El-Sayyad said after a meeting Wednesday with the EIB Vice President Kloyu Cortez.
The EIB will probe the possibility of expanding programs to finance small and medium-sized enterprises and to establish new industrial zones in Egypt, he added.
The minister said the EIB will also review prospects of providing funds for carrying out projects in the fields of renewable energy, infrastructure and local manufacture of equipment.
Discussions also dwelt on ways to benefit from the EIB expertise in developing the Egyptian export system through the establishment of logistic areas, roads, stores and navigation routes between Egypt and important ports in several countries to help up the volume of Egypt's trade, according to El-Sayyad.
The EIB allocated 20 percent of its budget to support industry and fund a number of existing projects in Egypt, including two projects for producing energy from the wind in Suez.
Separately, El-Sayyad said Tuesday the cabinet approved to offer new four licenses to four plants to produce three million tons of steel including two million iron bars and one million plates, two in Upper Egypt and two in Lower Egypt. Total investments reached LE three billion.
The minister said we should limit down the import of products which could be manufactured in Egypt.
He cited consultations with the Italian side to start manufacturing in Egypt of equipment, and various machines and medium products which we do not produce in Egypt.


Clic here to read the story from its source.