Saudi Ambassador to Egypt Hisham bin Mohieddin Nazir has stressed that the relations between the Kingdom of Saudi Arabia and Egypt are deep-rooted. During a symposium organized by the Garden City Lions Club last night under the theme "Saudi-Egyptian Relations in Light of International Developments", the Saudi Ambassador said the Kingdom is now the largest investor in Egypt, adding that Egyptian workers in the Kingdom of Saudi Arabia constitute 47% of the Egyptian labor force abroad. Regarding the impact of the global financial crisis on the economy of the Kingdom of Saudi Arabia, the Ambassador said that the global financial crisis affected all countries without exception, pointing out that the Kingdom was among the least affected countries by the crisis. Asked why the Kingdom has still not abolished the Sponsor System, the Saudi Ambassador said that there is no such system in the Kingdom, but in each case a written contract controls the situation between the employer and the employee, pointing out that there are 1,400,000 Egyptian workers in many government agencies and large companies. He denies there are serious problems between these agencies or companies and their Egyptian employees, requesting the media not to exaggerate the issue. --More
