The economic expert Amr Youssef commented on the increasing Saudi purchases in the Egyptian market in an exclusive interview with RT, adding that Saudi Arabia is at the vanguard of nations drawn to this industry and investing in it.
According to Amr Youssef of RT, “the Egyptian state is aiming, through Egypt’s Sovereign Fund, to attract Arab and foreign investments by offering investment possibilities in some potential industries. This is in accordance with the state’s plan to expand ownership.
“Through this, Egypt achieves the equation of maximising its assets through maximising exploitation opportunities and achieving sustainable development by safeguarding the rights of future generations,” Youssef continued. to establish up investment zones in various sectors in order to achieve the necessary economic integration and consolidation of Arab relations.
He continued, “The Kingdom of Saudi Arabia is at the forefront of nations drawn to the Egyptian market and investment, and an agreement has been in place for months to pump more than $10 billion into Egypt through collaboration between the Saudi Public Investment Fund, which established the company with the Sovereign Fund of Egypt.
Saudi Egyptian Investment, which prioritises its goals to invest within the structure of the promising sectors in the structure of the Egyptian economy, such as the infrastructure, real estate, health, agriculture, and pharmaceutical sectors, will put into practise its first transactions by purchasing state-owned shares in 4 companies listed on the stock exchange with values exceeding $1 billion, which are represented in: Alexandria Container Handling, Abu Qir, and Al-Azhar.
“This serves as the culmination and promotion of the investment environment within the Egyptian economy,” the economist continued, “as it is a safe haven for investment in general, looking for investment opportunities within emerging markets that are not related to export to countries affected by the global economic slowdown, as well as considering Egypt as one of the largest countries with the largest economy in the Middle East. The fact that Egypt’s economy and market are important globally and regionally as investment destinations is demonstrated by the fact that the country has one of the highest rates of return on investment.
“In addition to what was mentioned, Egypt has mediated geographically the middle of the world, giving investment within the Egyptian economy the best option to reach the markets of the entire world in all of its continents, so that Egypt is the closest country to the old continent and the Americas, in contrast to other industrialised countries, in addition to the availability of sewage Water, which allows facilitating trade movements to and from the entire world,” Amr Youssef continued.
Nasser Hatem is the RT source.
A financial expert weighs in on the expanding Saudi acquisitions in the Egyptian sector for RT.
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