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FINANCIAL NEWS
Saudi Arabia to invest USD 4bn in projects in Egypt
06 Apr 2016
(MENAFN) Saudi businessmen are investing USD 4bn in projects involving the Suez Canal, energy and agriculture, and have deposited 10 percent of that amount.
Furthermore, 10 percent have been left in Egyptian banks, which will complete 25 percent among three months.
Additionally, the government made efforts to resolve difficulties faced by nine Saudi-owned companies in securing official permits for their projects.
There were 3,302 Saudi-owned firms in Egypt, with a whole capital of USD 27.9bn, while Egypt’s foreign currency reserves dropped at USD 16.56bn.
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With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
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