Kuwaiti Prime Minister Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah arrived in Cairo on Wednesday for talks aimed at strengthening bilateral cooperation in a range of economic sectors, Egypt's cabinet said in a statement. He was greeted at Cairo International Airport by his Egyptian counterpart, Mostafa Madbouly. An official reception ceremony was held that included the playing of both countries' national anthems and an inspection of the guard of honour. The two premiers are scheduled to co-chair an expanded session of talks on Wednesday to discuss files of common interest and ways to support and enhance bilateral cooperation in various fields, the statement added. Kuwait is a significant investor in Egypt, ranking as the fifth-largest overall and the third-largest among Arab nations, after the United Arab Emirates and Saudi Arabia. There are about 1,431 joint investment projects between the two countries, and the annual trade volume is around $3bn, according to previous data from Egypt's state statistics agency, CAPMAS. The visit is the latest in a series of high-level exchanges. Egyptian President Abdel Fattah Al-Sisi visited Kuwait in April, while Madbouly made an official visit to the Gulf state in February to discuss strengthening economic cooperation and Kuwaiti investments in Egypt. During Madbouly's February visit, Kuwaiti officials expressed their readiness to implement several major industrial projects in fields including automotive, pharmaceuticals, engineering, and food industries, as well as injecting new investments into the real estate, ICT, and energy sectors, an Egyptian government official told Asharq. Madbouly promised Kuwaiti investors a "Golden Licence" for new factories that contribute to localising industry. The single-approval licence, which Egypt launched in 2023, covers the establishment, operation, and management of a project.
