Оver 800 Saudi companies invest US$34 billion in Egypt
Saudi Arabia is Egypt’s third-largest trading partner
Saudi investments in Egypt have surged to US$34 billion, with more than 800 Saudi companies operating across the country, Egypt’s Minister of Agriculture and Land Reclamation Alaa Farouk. This is reported by Daily News Egypt, a partner of TV BRICS.
Farouk highlighted that Saudi Arabia is Egypt’s third-largest trading partner, with bilateral trade reaching US$13 billion in 2023. Egyptian exports to the Kingdom totalled US$5.3 billion, while imports from Saudi Arabia stood at US$7.5 billion. Meanwhile, Egyptian investments in Saudi Arabia have also expanded, with over 6,830 Egyptian companies active in the Kingdom, investing nearly US$5 billion.
The creation of the Egyptian-Saudi Higher Coordination Council and the investment protection and promotion agreement signed in October 2024 were cited as pivotal moves in strengthening institutional relations.
In the agricultural sector, more than 13 major Saudi companies are active in areas including livestock, poultry, dairy, animal feed, and veterinary pharmaceuticals.
Looking ahead, Farouk identified major opportunities for Saudi investment in Egypt’s agricultural sector, including land reclamation, seed production, vaccine manufacturing, livestock and aquaculture projects, and food processing for export markets.
Photo: iStock
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