Egypt, Saudi look to boost investment

The Egyptian-Saudi business council, which will hold its first expanded meeting after it was reformed in Jeddah on August 13, will discuss bolstering joint investments and carrying out more Saudi projects in Cairo, Egypt’s ambassador to Saudi Arabia Mahmoud Ouf said.

Ouf told MENA that the meeting, under Egypt’s Ibrahim Mahlab and Saudi Arabia’s Abdullah Dahlan, will assess cooperation between the two countries and the facilities offered by Egyptian government after the 25th January revolution to encourage investments.

New contract of Toshka with Saudi prince

The new contract of property for the Toshka land allocated for the company owned by Saudi Prince Al-Walid bin Talal will be signed on Today 7-6-2011.

A senior official told Al-Ahram that the cabinet has approved the new contract which has been endorsed by the State Council.

The new contract is also consistent with the memorandum of understanding signed between the Ministry of Agriculture and the Saudi company.