Minister: Saudi investment package for Egypt could increase from 30 to 60 bn dollars

Egyptian Investment Minister Dalia Khorshid said Friday that the Saudi investment package for Egypt, which was announced by Saudi King Salman Bin Abdel Aziz, could increase from 30 to 60 billion dollars.

In statements to the Saudi "Okaz" newspaper, the minister said that a large number of Saudi companies are interested in setting up economic projects in Egypt, particularly after the government's pledge to remove all obstacles to Saudi businessmen and investors. 

There are nearly 5,000 companies operating in Riyadh and Cairo, the minister noted, adding that out of them 3,500 Saudi companies are working in Cairo in the various fields.

Saudi Arabia ranked first among Arab investors in Egypt, the minister said.

The kingdom will announce new investments in a number of giant projects in Egypt in the coming days, the minister added.