Saudi Crown Prince announces $5 billion investment in Egypt

Saudi Crown Prince Mohammed bin Salman announced a $5 billion investment by the Saudi Public Investment Fund in Egypt during a meeting with Egyptian Prime Minister Mostafa Madbouly in Riyadh, according to Egyptian media. The Prime Minister’s visit aims to strengthen economic ties between the two nations.

Bin Salman highlighted Saudi Arabia’s progress under Vision 2030 and the contributions of Egyptian workers to Saudi Arabia's development. He also emphasized the importance of resolving trade disputes to encourage further Saudi investment in Egypt. The crown prince reaffirmed the importance of building an electrical connection between the two countries and signaled the kingdom’s desire to facilitate energy investments in Egypt, notably in the field of renewables. 

Prime Minister Madbouly reportedly praised Vision 2030 and Saudi Arabia’s urban and economic development. The two sides also addressed regional crises, including the situation in Gaza and Yemen.