The Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, emphasized increasing cooperation and investment with Egypt in a recent meeting with Prime Minister Madbouly. Discussions included enhancing trade, the significance of foreign direct investment, and various investment opportunities in Egypt. Both nations expressed a commitment to strengthening ties ahead of the Arab Summit.
Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Emir of Kuwait, has urged his government to bolster cooperation and investment ties with Egypt during a meeting with Egyptian Prime Minister Mostafa Madbouly at the Bayan Palace. The Emir commended Egypt’s vital contribution through experts aiding Kuwaiti development and encouraged enhanced collaboration for mutual benefit between the two nations.
Prime Minister Madbouly extended President Abdel Fattah Al-Sisi’s greetings and an invitation for the Emir to attend the Arab Summit in Cairo on March 4, which the Emir accepted. Discussions also underscored the longstanding support and investment opportunities between Egypt and Kuwait, emphasizing the strong bilateral relations.
During a separate session with Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Sabah, discussions highlighted the importance of increased trade and investments. The Kuwaiti Prime Minister expressed a desire for more Kuwaiti banks to operate in Egypt and expand joint ventures, especially in drug manufacturing and food security.
Madbouly detailed Egypt’s economic reforms aimed at attracting foreign direct investment (FDI) and improving the investment climate. He mentioned the objective of having private sector investments contribute 65% of total investments, indicating a current achievement of 60%. Moreover, the government seeks to simplify investment procedures and potentially expedite the issuance of “Golden Licenses.”
The Egyptian Prime Minister underlined opportunities for investment in key sectors like agriculture and pharmaceuticals on the North Coast and the Red Sea. He noted the impact of regional crises on Egypt’s economy but expressed optimism about convening a joint business council with Kuwait to enhance cooperation in various economic fields.
In conclusion, the meetings between the Kuwaiti Emir and Egyptian officials reflect a strong desire to enhance bilateral cooperation and investment. Both countries highlighted their appreciation for each other’s ongoing support and outlined various economic opportunities. Continued collaboration is aimed at increasing trade, improving the economic environment, and strengthening regional ties ahead of the upcoming Arab Summit.
Original Source: www.dailynewsegypt.com
