
File Photo: The Commercial Minister Plenipotentiary and Head of the Egyptian Commercial Office in Saudi Arabia Osama Basha .Photo courtesy of PropertyPluse website.
Basha said this during his farewell celebration organized by the General Union of Egyptians Abroad in Saudi Arabia.
Saeed Yahya, head of the Egyptian community in Saudi Arabia, led the celebration.
The event aimed to express gratitude for Basha's significant contributions to strengthening the two nations' economic, commercial, and investment ties.
During the event, Basha revealed that Egypt now ranks seventh among Saudi Arabia’s largest trading partners.
He added that Saudi investments in Egypt reached $37 billion across more than 6,830 companies.
However, Egyptian investments in Saudi Arabia totalled $5 billion through 805 companies.
He emphasized that Egypt expects further Saudi investments and that businesses and entrepreneurs from both countries will continue cooperating.
Meanwhile, Yahya commended the efforts of the Egyptian Commercial Office in Saudi Arabia, particularly under Basha’s leadership.
He acknowledged the office’s vital role in enhancing economic ties, especially in investment and trade, while supporting the Egyptian community, businesses, and entrepreneurs in Saudi Arabia.
Yahya also praised its assistance to Saudi companies seeking investment opportunities in Egypt.
Egypt's collaboration with Saudi Arabia is expected to continue expanding, further deepening the two fraternal nations' economic relations.
In ِAugust 2024, General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba said Egypt will open a Saudi investment office at the authority's headquarters in Cairo to boost economic and investment ties between the two countries.
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