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Monday, 11 April 2016

Saudi-Egyptian investment fund to focus on energy, tourism, services, real estate

The SAR 60 bn Egyptian-Saudi Investment Fund will target what it characterized as high-return and high-growth sectors including energy, tourism, real estate development, the development of industrial cities, and the services sector, said Investment Minister Dalia Khorshid. The fund will focus on projects in sectors that are both Saudi and Egyptian in nature, in addition to creating vehicles that will rely on stable and sustainable low-risk ventures, she added. The formation of the Egyptian-Saudi Investment Fund was one of the 10 agreements signed Saturday evening between Saudi Arabia and Egypt, worth a total of USD 25 bn, according to International Cooperation Minister Sahar Nasr, according to an English-language statement on the International Cooperation ministry’s website.

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