{"id":657230,"date":"2024-12-17T00:00:00","date_gmt":"2024-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/madbouly-saudi-industry-and-mining-minister-highlight-sectors-earmarked-for-investment\/"},"modified":"2024-12-17T00:00:00","modified_gmt":"2024-12-17T00:00:00","slug":"madbouly-saudi-industry-and-mining-minister-highlight-sectors-earmarked-for-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/madbouly-saudi-industry-and-mining-minister-highlight-sectors-earmarked-for-investment\/","title":{"rendered":"Madbouly, Saudi industry and mining minister highlight sectors earmarked for investment"},"content":{"rendered":"

Egypt, KSA pinpoint sectors earmarked for investment: <\/strong>Prime Minister Moustafa Madbouly met with Saudi Industry and Mineral Resources Minister Bandar Alkhorayef<\/a> yesterday, where they agreed to include the sectors of petrochemical, pharma, and automotive in the broader agreements signed between the two countries back in October, according to statements from both nations. <\/p>\n

(Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Remember: <\/strong>President Abdel Fattah El Sisi had met with Saudi Crown Prince and Prime Minister Mohammed bin Salman in Cairo back in October<\/a>, where they oversaw the signing of two agreements focused on streamlining mutual investments and providing investment guarantees. The inking of the Agreement on Promotion and Mutual Protection of Investments between Egypt and Saudi is expected to bring in upwards of USD 10 bn in bilateral investments<\/a> over the next three years. <\/p>\n

A whole lotta projects mulled: <\/strong>The two discussed potential projects including the production of polyesters, pharma raw materials and automotive manufacturing as well as electrical appliances and household tools, Saudi Deputy Industry Minister Khalil Ibn Salamah said during the meeting. <\/p>\n

Putting pen to paper soon? <\/strong>Ibn Salamah expects the two sides to ink fresh investment agreements over the coming months. <\/p>\n

BACKGROUND- <\/strong>Mohamed bin Salman said back in September that he had directed<\/a> the PIF to invest USD 5 bn in Egypt as part of the \u201cfirst phase\u201d of a larger program.<\/p>\n

Who attended the meeting? <\/strong>Alkhorayef was joined by the CEOs of the Saudi Export Development Authority and the Saudi EXIM Bank. Transport and Industry Minister Kamel El Wazir was also in attendance alongside other policymakers. <\/p>\n","protected":false},"excerpt":{"rendered":"

The two sides agreed to explore the potential for a large-scale polyester production project, among others<\/p>\n","protected":false},"author":1,"featured_media":657231,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[8952,72,125,131,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egypt-saudi-relation","tag-enterpriseam","tag-investment-watch","tag-manufacturing","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"803781da-c7f1-4dbf-a241-6d6fd3aa8352","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1559.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Madbouly, Saudi industry and mining minister highlight sectors earmarked for investment","related_issue":[657215],"teaser":"The two sides agreed to explore the potential for a large-scale polyester production project, among others","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.c08858b5-35a4-44ee-8510-770f2ece2ea1.mp3"},"yoast_head":"\nMadbouly, Saudi industry and mining minister highlight sectors earmarked for investment - 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The fund\u2019s mandate will focus on \u201cpriority sectors\u201d including tourism,\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/199.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588010,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/05\/saudi-industry-minister-talks-industry-mining-on-visit-to-egypt-plus-suez-canal-blockage-bank-abc-to-sell-blom-unit\/","url_meta":{"origin":657230,"position":1},"title":"Saudi industry minister talks industry, mining on visit to Egypt. 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No further details were given.","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593909,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/14\/saudi-egyptian-industrial-development-company-to-invest-usd-40-mn-in-new-sectors-by-end-of-2020\/","url_meta":{"origin":657230,"position":4},"title":"Saudi-Egyptian Industrial Development Company to invest USD 40 mn in new sectors by end of 2020","author":"enterpriseam admin","date":"14 October 2019","format":false,"excerpt":"INVESTMENT WATCH- The Saudi-Egyptian Industrial Investment Company (SEII) has earmarked USD 40 mn to invest by the end of 2020, CEO Ahmed Ata tells the press. SEII is currently mulling four new investment prospects, the largest of which is in an unnamed energy company. The company is looking to diversify\u2026","rel":"","context":"In "Speed Round"","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":560831,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/15\/usd-2-5-bn-of-saudi-investment-in-five-years-meamar-launches-healthcare-unit\/","url_meta":{"origin":657230,"position":5},"title":"USD 2.5 bn of Saudi investment in five years + Meamar launches healthcare unit","author":"enterpriseam admin","date":"15 March 2021","format":false,"excerpt":"Sharbatly Group pouring USD 2.5 bn into Egypt? Saudi investor Hassan Sharbatly plans to invest some USD 2.5 bn in several ventures in Egypt over the next five years, he said during a meeting with Prime Minister Moustafa Madbouly and other members of cabinet yesterday, according to a statement. 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