(MENAFN- Kuwait News Agency (KUNA)) Egyptian Prime Minister Ibrahim Mahlab on Monday lauded the Kuwaiti leadership and people for their support to the ailing Egyptian economy.
This stance was crowned by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's participation in the recently held international conference for supporting Egyptian economy, the Cabinet Spokesman Hossam Al-Qawesh quoted Premier Mahlab as saying during his reception of members of the newly-minted Egyptian-Kuwaiti Business Council.
Al-Qawesh stated that the Premier congratulated the guests on the foundation of the business council, stressing the strategic partnership between the two Arab countries.
Mahlab noted that the new Egyptian leadership is determined to abrogate all bureaucratic measures and reform legislations that cripple the smooth flowing of foreign investments.
He briefed the guests about the major investment opportunities in Egypt, particularly those related to the new Suez Canal project.
Meanwhile, head of the Egyptian-Kuwait Business Council Mohammad Jassem Al-Saqer said that standing by Egypt and its economy boosts Gulf region stability and security.
Any negative development in Egypt would have consequences in the regional countries, he said.
He spoke about enthusiasm among Kuwaiti investors to invest in Egypt.
Al-Saqer added that he has discussed with PM Mahlab Kuwaiti plans for implementing various mega projects in Egypt in the coming period as well as the challenges facing some Kuwaiti projects in the country.
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