The Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, has directed his government to enhance cooperation with Egypt and boost investments for mutual benefit. The directive was issued during a meeting with Egyptian Prime Minister Mostafa Madbouly at the Amiri Diwan headquarters (Bayan Palace) on Sunday. During the meeting, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah commended Egypt's significant contribution in sending experts who have played a crucial role in advancing Kuwait's development across multiple fields. He then urged for stronger collaboration and increased investment opportunities between the two nations. Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Sabah also received Madbouly to discuss enhancing bilateral cooperation. The meeting, attended by top officials from both sides, highlighted strong Egypt-Kuwait ties, investment prospects, and regional coordination. Madbouly conveyed President Abdel Fattah Al-Sisi's greetings and appreciation for Kuwait's support, delivering an invitation for the Emir to attend the Arab Summit in Cairo on March 4. The Emir welcomed the invitation and expressed his intent to participate. The Prime Minister reaffirmed Egypt's commitment to supporting Kuwaiti investors and fostering a favourable business environment despite regional challenges. He also expressed Egypt's gratitude for Kuwait's longstanding support and its reform efforts. For his part, Sheikh Sabah Khaled Al-Sabah praised Egypt's role in Arab unity and anticipated Egypt's Gaza reconstruction plan. Madbouly reaffirmed Egypt's commitment to Palestinian rights and regional stability. Both leaders emphasised the need for a unified Arab stance ahead of the upcoming Arab Summit, aiming to strengthen relations across key sectors. Separately, Madbouly and Kuwaiti Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah chaired an official session of talks at the Bayan Amiri Palace, focusing on ways to enhance bilateral cooperation in various fields. Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah emphasised the importance of joint efforts between the Egyptian and Kuwaiti governments to increase trade, aligning with the strong political ties between the two countries. He expressed his support for a greater presence of Kuwaiti banks and investments in Egypt, which would contribute to increased joint ventures in both nations. "We look forward to joint cooperation with Egypt in the field of drug manufacturing and food security," the Kuwaiti Prime Minister added. Madbouly expressed his appreciation for the warm reception, affirming his commitment to working together to support economic relations between the two countries. He also expressed his hope to welcome the Kuwaiti Prime Minister to Egypt at the earliest opportunity. Madbouly outlined the Egyptian government's efforts in economic reform and its role in improving the investment climate and attracting more foreign direct investment (FDI). He noted that the economic reform program has prioritised supporting the private sector by setting a ceiling for public investments. "The goal is to reach a point where private sector investments account for 65% of total investments, and we have already reached 60%," Madbouly said. He affirmed that Egypt is looking to attract more FDI, highlighting significant investment opportunities in the Egyptian market that offer a rewarding return for investors. He showcased several promising investment opportunities in various sectors across different governorates. Madbouly also discussed the government's efforts to simplify procedures for investors, including the possibility of obtaining a "Golden License" issued directly by the Cabinet to facilitate priority projects. He also touched on the government's efforts to reduce external debt as a percentage of GDP and improve macroeconomic indicators to contribute to a strong and resilient economy. Madbouly also spoke about the impact of regional crises on the Egyptian economy, particularly the impact on Suez Canal revenues. During the talks, Madbouly expressed his hope for the prompt convening of the joint business council between the two countries. He also highlighted the role and expertise of Egyptian companies in implementing projects in Kuwait, expressing their readiness to undertake further projects. Madbouly presented a number of investment opportunities in the North Coast and the Red Sea, as well as directly on the Nile, and pointed to the potential for investment in the agriculture, food security and pharmaceutical sectors, noting the rewarding return on investment in the Egyptian market.
