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More than 6,000 Saudi companies operating in Egypt


RIYADH: There are 6,017 Saudi companies in Egypt, with investments of SR122 billion ($32.5 billion), according to data from the Egyptian General Authority for Investments.
The total paid-up capital of these companies is SR82 billion, said Dr. Saleh Bakr Al Tayyar, legal counsel for the Saudi-Egyptian Business Council, citing data from the Authority.
The Kingdom ranks second in the Arab world in terms of participation in foreign projects in Egypt, and in terms of the number of foreign companies invested, he said.
Abdel Wahab, CEO of the Authority, said that obstacles to further investment in Egypt from Saudi companies, will be removed, Al Watan newspaper reported. ....

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Egypt's parliament ratifies deal on strategic cooperation with Russia - Russian Politics & Diplomacy


Egypt’s parliament ratifies deal on strategic cooperation with Russia
CAIRO, December 16. /TASS/. The parliament of Egypt ratified on Tuesday a deal on comprehensive partnership and strategic cooperation with Russia, the Al Ahram newspaper reported.
In a Facebook post, the Russian embassy welcomed the move as an important step toward developing friendly relations between Russia and Egypt, which are based on deep traditions of friendship, mutual warm feeling between our peoples and bilateral intention to boost cooperation.
The agreement was signed in the Black Sea resort of Sochi on October 17, 2018, during the Egyptian president’s visit to Russia. The lower chamber of the Russian parliament, the State Duma, ratified it in July 2019. The deal is aimed at strengthening friendship and cooperation between the two countries. Under the agreement, the parties agreed to exchange the presidents’ visits on a regular basis and hold regular ministerial meetings in betwe ....

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