CAIRO - 21 June 2022: Agreements signed between Egypt and Saudi Arabia represent a qualitative transfer in investment relations between the two countries, according to CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed Abdel Wahab. Abdel Wahab elaborated that these agreements will support the infrastructure, logistics and technology sectors; which work to develop the capabilities of the Egyptian economy. The Ajlan & Bros Holding Group signed several investment agreements with the Egyptian side, in the fields of petroleum products, infrastructure, renewable energy, logistics, food industries, food security, the pharmaceutical industry, the automobile industry and the entertainment industry. In the same field, Khwarizmi Ventures and Khazna signed an investment agreement with the aim of expanding in the Kingdom of Saudi Arabia and providing mobile financial services to the Kingdom's workforce. In the medical and pharmaceutical sector, Jamjoom Pharma announced the inauguration of the Jamjoom Pharma factory in Egypt.

Source: Egypt Today June 21, 2022 18:20 UTC