Egypt and Saudi Arabia announced the forging of an agreement to encourage and protect mutual investments, according to a statement issued by the Egyptian presidency on October 15th.

The announcement was made during the Saudi Crown Prince Mohamed bin Salman’s recent visit to Cairo, where he met with Egyptian President Abdel Fattah al-Sisi.

Sources revealed that the Saudi Investment Protection Agreement aims to simplify and support Saudi investors’ operations in Egypt. During a recent meeting with Saudi investors, Egyptian officials committed to addressing pressing obstacles to Saudi investments swiftly.

The agreement is announced as both countries are focused on finding solutions that will enhance Saudi investors’ confidence and foster ongoing investment in Egypt’s economic landscape.