Egypt’s Ministry of Commerce and Industry revealed that Saudi Arabia topped Arab countries in their investments in Egypt.
Saudi Arabia’s investments in Egypt amounted to $5.5 billion as of January 2014 and accounted for 26 per cent of total Arab investments, reports UAE-based Aliqtisadi.
The number of Saudi projects in Egypt is estimated at roughly 3,121, while the value of Saudi investments in Egypt until February 2015 reached $6bn.
The number of Saudi-established companies in Egypt reached 3,421 – with 684 companies working in the industrial sector, 112 in the financial sector, 268 in tourism, 471 in construction, 367 in agriculture, 962 in the services sector and 252 in telecommunications and information services.
Egyptian exports to the Kingdom, according to the ministry’s report, are mainly agricultural, industrial, food and electrical goods, while the most important Egyptian imports until the first half of 2015 were petroleum products, chemical and pharmaceutical products.
(US$1 = AED3.67, at the time of publishing)