King Salman Orders Investments in Egypt Exceed $8 billion
December 08, 2015
The Custodian of the Two Holy Mosques King ordered the Kingdom to help meet Egypt’s petroleum needs for the next five years. He also ordered that Saudi investments in Egypt be more than SR 30 billion Riyals ($8 billion).
This came as a result of the joint statement for second meeting of Saudi-Egyptian Coordination Council for the implementation of the Cairo Declaration, signed in Riyadh on 11/11/2015 calling in item (iii) of it for the council to meet periodically and alternately between the two countries.
The second meeting of the council was held in Cairo yesterday in the presence of members of both sides. The Egyptian side was led Prime Minister Engineer Sherif Ismail Mohammed, and the Saudi side by Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, the Second Deputy Prime Minister and Minister of Defense.