Kuwaiti investments in Egypt stand at $4.7 billion, through 1,302 companies working in the fields of industry, finance, real estate, tourism, services and agriculture, Kuwaiti Minister of Finance Nayef Falah said on Saturday.
Falah, who is also the chairman of the Kuwait Investment Authority, made the remarks during his meeting with Egypt’s Minister of Investment and International Cooperation Sahar Nasr, on the sidelines of meetings of Arab finance institutions currently taking place in Kuwait.
The two sides agreed on boosting joint investments and encouraging businessmen in both countries to channel new investments. The Egyptian minister has invited Kuwaiti investors to visit Egypt to explore promising investment opportunities available in the country, the investment ministry said in a statement Saturday.
During the meeting, Nasr discussed investment opportunities available in Egypt, particularly in the country’s national megaprojects such as the New Administrative Capital, the economic zone around the Suez Canal and New Alamein city on the Mediterranean.