El Khatib continued to make the rounds in Kuwait: Investment Minister Hassan El Khatib spent his second day in Kuwait in a series of high-profile meetings aimed at strengthening Egyptian-Kuwaiti economic ties and drumming up investments.

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#1- Ali Alghanim explores new investments in Egypt: Kuwait’s Ali Alghanim & Sons Group is looking into setting up an insulin factory in Egypt in partnership with foreign companies as part of its expansion in Egypt. The group is also exploring the development of a tourist resort overlooking the Red Sea.

Ali Alghanim already has a footprint in the Egyptian market: The group’s JV — set up with Saudi’s Mohamed Yousuf Naghi Group, and Egypt’s Organi Group — Auto Mobility recently inaugurated a USD 100 mn auto assembly plant for Chinese automaker Geely-branded vehicles in Egypt.

Remember- Egyptian-made insulin is fairly new. Eva Pharma became the first player to locally produce insulin glargine late last year, with a new production line that will help Egypt become a net exporter of the med. Eva Pharma’s production line is expected to move Egypt from importing 6 mn doses annually to exporting 74 mn doses.

#2- The first meeting of the Egyptian-Kuwaiti Joint Ministerial Trade Committee: El Khatib, alongside Kuwait’s Trade Minister Khalifa Ajeel, co-chaired the inaugural session of the Joint Egyptian-Kuwaiti Ministerial Trade Committee. The session touched on efforts to boost trade, industrial, and investment relations between the two sides.

All to boost Kuwaiti investments: “El Khatib invited Kuwaiti businessmen and companies to engage more actively in increasing current investments and creating new investments in joint projects across various fields,” according to the Kuwait News Agency.

At the top of the list: The two nations agreed to increase industrial, food safety, agriculture, and trade cooperation.

#3- Meetings with officials: El Khatib met with Kuwaiti Prime Minister Sheikh Ahmad Al Sabah — the two sides touched on efforts to boost relations and increase commercial, industrial, and investment cooperation between the two countries. El Khatib also held talks with Kuwaiti Finance Minister Noora Al Fassam.

#4- El Khatib highlighted potential investments in the local market during a meeting with a delegation from the Kuwait Investment Authority. He outlined key investment opportunities in Egypt, particularly in sectors including healthcare, food security, energy, communication, and information technology.

ICYMI- El Khatib’s first day in Kuwait was also plenty fruitful, with the minister meeting with representatives from Bukhamseen Group — which is mulling a USD 125 mn hotel in Egypt — Aref Investment, and Al Mulla Group. Check out the full story here.

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