Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Mursi: Remove all obstacles facing Saudi investment in Egypt  Join our daily free Newsletter

MENAFN - Arab News - 12/09/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) Egyptian President Muhammad Mursi held talks here yesterday with Commerce and Industry Minister Dr. Tawfiq Al-Rabiah and instructed his officials to remove all obstacles facing Saudi investment in the country.

Al-Rabiah's meeting with the president was attended by a large number of Saudi businessmen as well as Saudi Ambassador to Cairo Ahmed Kattan and Egyptian Minister of Industry and Foreign Trade Hatem Saleh.

"During the meeting the two sides reviewed bilateral relations and ways of strengthening these relations in all areas as well as new investment opportunities in Egypt and prospects of establishing more joint ventures," the Saudi Press Agency reported.

Mursi's spokesman Dr. Yasser Ali said the president had given his instructions to remove all obstacles facing Saudi investment in Egypt. "The president has also instructed to speed up procedures for Saudi investments," he added.

President Mursi called for greater Saudi investment in Egypt and emphasized the need to expand trade exchange between the two countries, the spokesman said.

Al-Rabiah is leading a 50-member business delegation to Egypt including 36 businessmen. During the meeting at the presidential palace, Mursi listened to the problems facing Saudi investment projects worth 27 billion in Egypt, especially their investments in the country's privatization projects.

Finance Minister Mumtaz Al-Saeed said the Egyptian side had presented 15 new projects valued at 8.5 billion to the Saudi delegation during the meeting.
"We have opened an office in Cairo to solve the problems facing Saudi investors," said Egyptian Investment Minister Osama Saleh, adding that a ministerial team has been set up to resolve the problems of Saudi investors.

"There was a Cabinet decision to establish this office two years ago but it did not happen due to some reasons," Saleh said, adding that the new center would boost Saudi-Egyptian investment projects.

Meanwhile, Ahmed Al-Wakil, president of the Egyptian Chamber of Commerce and Industry, said the Saudi-Egyptian Business Council would meet here today to discuss prospects of increasing bilateral trade exchange and joint investment projects.

"The ministerial committee set up by the Egyptian Cabinet will try to resolve all problems facing Saudi investors," he said.

Saudi-Egyptian trade exchange volume amounted to SR 17.7 billion in 2011 when Saudi exports to Egypt reached SR 10.7 billion while Saudi imports from the country amounted to SR 7 billion.

The Cairo talks will also focus on the 3 billion Saudi-Egypt Causeway project. "Our delegation will press for speeding up studies on the proposed 32-km causeway," said Abdullah Dahlan, president of Saudi-Egyptian Business Council and a board member of the Jeddah Chamber of Commerce and Industry. He said the causeway project would boost bilateral trade and facilitate travel of Egyptian pilgrims.

The causeway will start from Ras Nassrani in the Egyptian resort of Sharm El-Sheikh and pass by Tiran Strait before reaching Ras Hamid near Tabuk in northern Saudi Arabia.

Egyptian Transport Minister Mohamed Rashad Al-Mateny said a technical committee would meet in late September to discuss first steps to implement the project.

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014UN Chief: All Parties in Syria Blocking Aid ,Qatar News Agency
(MENAFN - Qatar News Agency) w York April 24 - The UN Secretary General Ban Ki-moon has accused all parties in Syria's civil war of "flagrant violations" of international law over the delivery of ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Aqaba Container Terminal Contributes to Elevating Standards of Pre-School Education ,MENAFN Press
(MENAFN Press) Aqaba Container Terminal (ACT), the world's gateway to Jordan and beyond, recently held a charity dinner in collaboration with the Aqaba Intercontinental Hotel. The event, held at the ...

Apr 24 2014Dubai Financial Market profit soars in Q1 ,MENAFN
(MENAFN) Dubai Financial Market (DFM) announced a better-than-expected net profit increase in the January-March period of this year, Arabian Business reported. The Gulf's only listed bourse said ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help