Kuwaiti Emir Urges Enhanced Cooperation and Investments with Egypt

The Emir of Kuwait called for increased investment and cooperation with Egypt during a meeting with Prime Minister Mostafa Madbouly. Both leaders discussed strengthening ties, acknowledging historical support, and emphasized the importance of a unified Arab stance ahead of the upcoming Arab Summit. Significant investment opportunities in numerous sectors were outlined, alongside Egypt’s commitment to enhancing the business environment for Kuwaiti investors.

Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Emir of Kuwait, has emphasized the need for enhanced cooperation with Egypt and increasing investment opportunities during a meeting with Egyptian Prime Minister Mostafa Madbouly at the Amiri Diwan headquarters. The Emir recognized Egypt’s extensive contributions and highlighted the importance of stronger collaboration between both countries.

In their discussions, Sheikh Meshal commended Egypt for sending experts who have greatly aided Kuwait’s development in various sectors. Meanwhile, Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Sabah also met with Madbouly, further discussing avenues for increased bilateral cooperation between their nations.

Prime Minister Madbouly conveyed President Abdel Fattah Al-Sisi’s greetings and extended an invitation for the Emir to participate in the upcoming Arab Summit in Cairo on March 4. The Emir expressed his appreciation for the invitation and expressed intent to attend.

Madbouly reaffirmed Egypt’s dedication to providing a conducive environment for Kuwaiti investors amidst regional challenges while recognizing Kuwait’s historic support for Egypt. He also expressed gratitude for Kuwait’s continued backing of Egypt’s reform efforts, signaling a commitment to fostering a robust bilateral relationship.

Sheikh Sabah Khaled Al-Sabah acknowledged Egypt’s vital role in promoting Arab unity and expressed anticipation for its plans related to Gaza reconstruction. Both leaders reinforced their commitment to Palestinian rights and regional stability, stressing the importance of unity ahead of the Arab Summit.

During an official dialogue at the Bayan Amiri Palace, Madbouly and Kuwaiti Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah innovated strategies for enhancing cooperation across various fields. The Kuwaiti Prime Minister advocated for increased Kuwaiti investment in Egypt, particularly in the drug manufacturing and food security sectors.

The Egyptian Prime Minister expressed appreciation for the warm welcome received in Kuwait and emphasized a joint commitment to strengthening economic ties. Madbouly presented an overview of Egypt’s economic reforms aimed at attracting foreign direct investment (FDI), targeting a 65% contribution from the private sector.

Highlighting significant investment opportunities within Egypt, Madbouly spoke about his government’s ongoing efforts to streamline investment processes and introduce measures such as a “Golden License.” He also reiterated the positive expectations concerning Egypt’s macroeconomic indicators despite external pressures.

The discussions included the impact of regional events on the Egyptian economy, particularly concerning Suez Canal revenues. Madbouly expressed hopes for the immediate reconvening of the joint business council, acknowledging the expertise of Egyptian firms active in Kuwait’s projects.

Furthermore, Madbouly outlined several investment opportunities in the North Coast, Red Sea, and along the Nile, noting the attractive prospects in agriculture, food security, and pharmaceuticals. He emphasized that these sectors present rewarding returns for potential investors.

In summary, the recent meeting between the Emir of Kuwait and the Egyptian Prime Minister underscored their commitment to fostering stronger bilateral ties through enhanced investment opportunities and cooperation. Both nations reaffirm their support for regional stability and economic reforms, setting the stage for a promising future in collaboration across various sectors.

Original Source: www.dailynewsegypt.com