Egypt, Saudi Arabia sign 4 Ivestment Agreements in Food, Energy, Real Estate, and Industry

 GAFI CEO Mr. Hossam Heiba attended the inking of four investment agreements between the business communities in Egypt and Saudi Arabia. The agreements, which span sectors including investment promotion, food industries, solar energy, metal industries, and real estate development and marketing, were signed on the sidelines of Egyptian-Saudi Investment Forum.

The first memorandum of understanding (MoU) was signed by Mr. Ahmed Samida, the CEO of Business City Group, and Ms. Hend Aloni, CEO of GCC Capital Partners Saudi Arabia. The agreement aims to provide innovative investment solutions and attract foreign capital to invest in the Egyptian market in the sectors of poultry production and farming; food and agricultural processing; the agricultural sector and related industries; private and international education; real estate development and integrated residential projects; and the export of Egyptian products to foreign markets.

Mr. Fayadh Al-Anzi, Director of the Saudi ASAS Holding Group, and Mr. Osama Hanafi, Chairman of Board of Directors of Alcotech Engineering Industries, signed the second MoU, which outlines plans to establish a factory to produce aluminum cladding panels and their derivatives, on an area of 10,000 square meters, with an annual production capacity of 3.6 million meters.

The third MoU was signed between Mr. Mohamed Kamal El-Din Othman, CEO of Nano Volt, and Mr. Amash Al-Dafeen Al-Subaie, Chairman of Aamal Al-Yusr Company. This MoU focuses on the marketing, sale, and installation of solar panels and their accessories in both Egypt and Saudi Arabia.

The fourth MoU was signed by Mr. Abdullah bin Obaid Al-Ajmi, Chairman of Yafl Real Estate Marketing and Development Company in Saudi Arabia, and Mr. Omar Abdel Hay, CEO of Horizon Capital. This memorandum outlines joint cooperation in managing and developing the operations of Yafl Real Estate Marketing and Development Company.
The forum also featured B2B discussions between business communities from both countries, paving the way for future investment agreements. Additionally, Mr. Yasser Abbas, GAFI CEO Deputy, led representatives of Saudi companies on an inspection tour of the Investor Services Center to acquaint them with GAFI’s latest efforts in improving the investment environment and digitizing services.