Egypt outlines 5 areas set for Saudi investment

Egypt has earmarked five areas along its Red Sea coast for Saudi investments, Prime Minister Mostafa Madbouly announced. Speaking at a press conference, Madbouly outlined plans to link the Egyptian and Saudi electricity grids by summer 2025, alongside major investment projects. These include Ras Banas, a peninsula with nature reserves and a port, and a tourist zone in the Red Sea Governorate. Egypt aims to foster Saudi investment and expand cooperation between the two nations.