{"id":563156,"date":"2021-06-21T04:00:36","date_gmt":"2021-06-21T04:00:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/usd-20-bn-saudi-investment-drive-more-from-china\/"},"modified":"2021-06-21T04:00:36","modified_gmt":"2021-06-21T04:00:36","slug":"usd-20-bn-saudi-investment-drive-more-from-china","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/usd-20-bn-saudi-investment-drive-more-from-china\/","title":{"rendered":"USD 20 bn Saudi investment drive + more from China"},"content":{"rendered":"<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>KSA is planning serious investment in Egypt:<\/strong> Saudi Arabia could invest as much as USD 20 bn in Egypt over the next five years, Egyptian-Saudi Joint Business Council Chairman Bandar Al Ameri told <a href=\"https:\/\/bit.ly\/3gHTDjk\">Akhbar El Youm<\/a>, saying the drive could bring total investments here from the kingdom and its companies to USD 50 bn. As many as 6,280 Saudi companies are currently operating in Egypt, he said, describing Egypt as a key market for Saudi investors.<\/p>\n<p><strong>One Saudi company that\u2019s going big:<\/strong> Sharbatly Group aims to invest <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db76ae93-8254-4331-adae-c548dcc64f34\">some USD 2.5 bn<\/a> in several ventures in Egypt over the next five years.<\/p>\n<p><strong>This comes a week after <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4985e75f-c286-4b65-b646-5a4aa5766f03\">the business council met in Cairo<\/a><\/strong><strong>.<\/strong> There were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0a1eb6d-c886-410b-abc9-a201a9af0862\">no major announcements<\/a> made following the talks, beyond the potential for a Saudi mining company to get involved in Egypt\u2019s mining sector, new logistics centers for date exports, and agreements to \u201ccooperate\u201d further in a number of sectors.<\/p>\n<p><strong>Saudi Arabia isn\u2019t our only Gulf ally stepping up investment here:<\/strong> The UAE is one of the biggest contributors of FDI to the Egyptian economy and in the past few years the Emirati public and private sectors alike have been buying into Egypt in a big way as the country looks to increase its investment in Egypt to <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/12\/uae-plans-to-double-its-investments-in-egypt-over-the-next-five-years-8329\/\">USD 14 bn<\/a> by the middle of the decade. In 2019, the Sovereign Fund of Egypt and ADQ agreed to <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypts-tharaa-establishes-a-usd-20-bn-investment-platform-with-abu-dhabi-holding-company-6357\/\">set up a new platform<\/a> to channel USD 20 bn of investment between the two countries, a pact that just two months later saw the Abu Dhabi sovereign fund agree to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/499d722d-51f8-4405-8eec-97273695317b\">invest in four companies<\/a> owned by the National Investment Bank. In 2021, Emirati real estate player Aldar Properties has announced its intention to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">acquire a majority stake in SODIC<\/a> \u2014 one of Egypt\u2019s largest property developers \u2014 while First Abu Dhabi Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb1b0f90-8b66-49c2-a2d9-5128a0be09c6\">snapped up Bank Audi Egypt<\/a>.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><strong>HSBC has supported Chinese clients investing in USD 20 bn-worth of <\/strong><strong>projects in Egypt<\/strong>, the bank\u2019s Egypt CEO and deputy chair Todd Wilcox told <a href=\"https:\/\/bit.ly\/3qcZK2c\">Asharq Business<\/a>, but didn't mention how much the lender is planning to dole out to cover part of the cost. Both Chinese and British investors are showing particular interest in the Egyptian market, he said, without providing further details.<\/p>\n<p><strong>BACKGROUND- China is taking the lead on some of our biggest ongoing infrastructure projects:<\/strong> China has become a vital partner for Egypt in delivering some of Egypt\u2019s most important infrastructure projects and has been one of the Suez Canal Economic Zone\u2019s biggest investors. State Construction Engineering Company (CSCEC), the world\u2019s largest construction outfit by revenue, is taking on the <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/14\/cscec-invests-usd-3-bn-in-development-of-business-district-in-new-capital\/\">USD 3 bn contract<\/a> to construct the new capital\u2019s business district, while two Chinese construction firms were named in the consortium that was last year put in charge of building the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e81e0e4-75b3-4a52-b922-854af95ba080\">USD 9 bn high-speed rail link<\/a> between New Alamein and Ain Sokhna.<\/p>\n<p><em><strong><br \/>\nCORRECTED ON 17 June 2021<\/strong> \u2014 HSBC has worked with Chinese companies to \"facilitate\" access to financing in projects in Egypt worth a combined USD 20 bn, as well as help in other areas. The lender didn't provide this amount in direct funding, and the projects it supported weren't just limited to infrastructure as a previous version of this story had suggested.\u00a0<\/em><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KSA is planning serious investment in Egypt: Saudi Arabia could invest as much as USD 20 bn in Egypt over the next five years, Egyptian-Saudi Joint Business Council Chairman Bandar Al Ameri told Akhbar El Youm, saying the drive could bring total investments here from the kingdom and its companies to USD 50 bn. As [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":563157,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[116,72,103,490,7111,125,219,90,112],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-china","tag-enterpriseam","tag-fdi","tag-hsbc","tag-infrastructure","tag-investment-watch","tag-saudi-arabia","tag-uae","tag-uk","wpautop","entry"],"acf":{"mongo_id":"fc19b27e-3688-44f2-871a-cd36bd606b6e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/262.jpg","photo_position":"above","related_issue":[563150],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USD 20 bn Saudi investment drive + more from China - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/usd-20-bn-saudi-investment-drive-more-from-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD 20 bn Saudi investment drive + more from China\" \/>\n<meta property=\"og:description\" content=\"KSA is planning serious investment in Egypt: Saudi Arabia could invest as much as USD 20 bn in Egypt over the next five years, Egyptian-Saudi Joint Business Council Chairman Bandar Al Ameri told Akhbar El Youm, saying the drive could bring total investments here from the kingdom and its companies to USD 50 bn. 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Red Sea Gateway Terminal (RSGT) \u2014 in which Saudi Arabia\u2019s Public Investment Fund and Cosco Shipping Ports together hold a 40% stake \u2014 is planning to invest in three or more ports in Africa and\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548377,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/07\/saudi-wealth-fund-sets-up-company-to-invest-in-egypt\/","url_meta":{"origin":563156,"position":1},"title":"Saudi wealth fund sets up company to invest in Egypt","author":"enterpriseam admin","date":"7 August 2022","format":false,"excerpt":"Introducing the SEIC: Saudi Arabia\u2019s sovereign wealth fund has set up a company to manage its investments in Egypt as it prepares to deploy bns of USD in the country in the coming months, it said in a statement on Thursday. The Saudi Egyptian Investment Company (SEIC) will act as\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/157.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610401,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/alhokair-unit-could-invest-up-to-usd-1-5-bn-here-next-year\/","url_meta":{"origin":563156,"position":2},"title":"Alhokair unit could invest up to USD 1.5 bn here next year","author":"enterpriseam admin","date":"20 November 2023","format":false,"excerpt":"Other participating companies could make announcements today","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1029.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591562,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/10\/alameriah-investment-company-to-invest-egp-15-bn-in-egypts-new-alamein\/","url_meta":{"origin":563156,"position":3},"title":"Alameriah Investment Company to invest EGP 15 bn in Egypt\u2019s New Alamein","author":"enterpriseam admin","date":"10 December 2019","format":false,"excerpt":"INVESTMENT WATCH- Alameriah Investment Company is \u201cgearing up\u201d to invest EGP 15 bn in New Alamein City, Chairman Bandar Al Ameri said during a meeting between the Egyptian-Saudi Business Council and Prime Minister Moustafa Madbouly, according to a cabinet statement. Al Ameri told Madbouly he exited his investments in other\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572649,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/saudi-health-fund-raises-usd-108-5-mn-to-invest-in-healthcare-in-egypt-and-morocco\/","url_meta":{"origin":563156,"position":4},"title":"Saudi health fund raises USD 108.5 mn to invest in healthcare in Egypt and Morocco","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"INVESTMENT WATCH- IFC, France and Denmark give Saudi\u2019s Humania USD 108.5 mn to invest in healthcare in Egypt, Morocco: The International Finance Corporation, France\u2019s Proparco and the Danish Investment Fund for Developing Countries are providing a USD 108.5 mn equity financing package to Saudi healthcare investment fund Humania to establish\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/15.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636602,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/04\/saudi-arabia-to-use-cbe-deposits-to-fuel-egypt-investments\/","url_meta":{"origin":563156,"position":5},"title":"Saudi Arabia to use CBE deposits to fuel Egypt investments","author":"enterpriseam admin","date":"4 August 2024","format":false,"excerpt":"Saudi Arabia sees Egypt \u201cas a promising market and important export platform for the countries of the region\u201d","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/164.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563156"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563156\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563157"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563156"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563156"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}