Egypt's General Authority for Investment and Free Zones (GAFI) on Tuesday hosted a Saudi government delegation to explore investment and partnership opportunities in the construction and building sectors. The Saudi delegation included officials from the Ministry of Investment (MISA), the Ministry of Municipal and Rural Affairs and Housing (MoMRAH), and the Saudi Contractors Authority (SCA), alongside members of Egypt's Federation for Construction and Building Contractors (EFCBC). GAFI CEO Hossam Heiba said the meeting reflected the strong growth of the construction industries in both countries and highlighted prospects for joint expansion into African markets, where Egypt benefits from preferential trade agreements. Heiba added that Saudi investment had significantly contributed to the Egyptian construction sector, particularly in projects emphasising sustainability and high local content. MISA Deputy Minister Mohammad Abdulrahman Abahussain said a new investment protection agreement between Egypt and Saudi Arabia would help boost bilateral flows. He also invited Egyptian firms to take part in the Future Projects Forum in Riyadh this September. Abahussain called for a joint strategy to advance the construction sector and noted that Saudi Arabia has issued over 7,000 investment licences to Egyptian companies, generating more than 80,000 jobs. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
