Consortiums between Egyptian and African contractors have a competitive edge over other foreign entities thanks to their expertise, technical know-how and human capabilities, Abd El-Aziz said during the eighth edition of the Builders Of Egypt Forum.

These consortiums play a vital role in economic development, job creation and the introduction of tangible opportunities for citizens across Africa, he added.

The Builders Of Egypt Forum was inaugurated on Sunday under the auspices of Prime Minister Mostafa Madbouly, with delegations from across the Arab world and Africa.

The theme of this year’s edition focuses on exporting Egypt’s construction work throughout the region. These exports are a valuable source of foreign currency and help sustain the operations of Egyptian companies.

The event, which was organized in cooperation with the Saudi Contractors Authority (SCA), features Saudi Arabia as the guest of honour.

Saudi Arabia offers significant opportunities for Egyptian contractors in its vast contracting market, President of the SCA Zakaria Al-Abdul Qader stated.

The country’s contracting market contributes approximately SAR 255 billion (almost $68 billion) annually to the GDP, Al-Abdul Qader added.

He also revealed that the SCA has presented more than 3,000 projects in Saudi Arabia, valued at over SAR 1 trillion (around $270 billion), at the Builders Of Egypt forum.

As part of its Vision 2030, Saudi Arabia is planning and launching a myriad of development projects in the sectors of energy, urban development, tourism, culture, housing and healthcare.