24/04/2025
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24/04/2025
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KUWAIT CITY, Apr 24: Ms. Shaikha Al-Bahar, Deputy Group CEO of the National Bank of Kuwait, participated in the Egyptian-Kuwaiti Cooperation Council’s visit to Cairo, aimed at exploring avenues to strengthen bilateral cooperation and unlock new opportunities across various sectors.
The Kuwaiti delegation, headed by Mr. Mohammed Al-Sager Head of the Egyptian-Kuwaiti Cooperation Council—comprised senior representatives from prominent Kuwaiti banks and corporations.
The delegation was received by His ExcellencyPresident Abdel Fattah El-Sisi at the Presidential Palace in Cairo, where he extended an invitation to Kuwaiti investors to explore the wealth of opportunities available in Egypt. He emphasized the incentives and facilities provided by the Egyptian government, encouraging the development of industrial cooperation through the establishment of strategic partnerships between Egyptian and Kuwaiti companies. El-Sisi underscored the immense potential of the Egyptian market, emphasizing its expansive scale, robust growth prospects, and significant demand across diverse sectors. He highlighted the substantial opportunities available for investors, particularly in high-value industries, where they stand to reap considerable returns.
The delegation also held a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly at the Government Headquarters in the New Administrative Capital. The meeting was attended by Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade; Ambassador Ghanem Saqr Al-Ghanem, Kuwait’s Ambassador to Egypt; and Ambassador Osama Shaltout, Egypt’s Ambassador to Kuwait.
During the meeting, Prime Minister Madbouly invited Kuwaiti investors to tap into the wide array of investment opportunities available in Egypt, affirming the government’s willingness to grant the “Golden License” to projects mutually agreed upon by both sides—streamlining procedures and reinforcing Egypt’s commitment to facilitating foreign investment.
Madbouly expressed his keen interest in seeing the Kuwaiti side explore the diverse investment prospects Egypt has to offer across a range of sectors. He emphasized Egypt’s openness to forging various forms of partnerships with Kuwaiti investors, underscoring the country’s commitment to fostering mutually beneficial collaboration that serves the shared interests of both nations.
He outlined several promising investment opportunities within the Egyptian market, particularly in key sectors including food security, oil and petrochemicals, logistics, tourism, and hospitality.
The Egyptian Prime Ministeralso reaffirmed the freedom to transfer foreign funds abroad, noting that the economic reforms implemented by the Egyptian government since March 2024—most notably the adoption of a flexible exchange rate policy—have significantly bolstered the country’s foreign currency reserves.
The delegation also held discussions with Egyptian Foreign Minister Dr. Badr Abdelatty, who expressed pride in the longstanding and historic ties between Egypt and Kuwait. He provided an overview of the recent economic reforms and national projects undertaken by Egypt, highlighting efforts to enhance the investment climate and strengthen the role of the private sector across various industries.
Furthermore, the Kuwaiti delegation engaged in a meeting with Egyptian Minister of the Public Business Sector, Eng. Mohamed Shemy, alongside Mohamed Jubran, Minister of Labor, to explore avenues for strengthening bilateral cooperation across business, economic, and commercial sectors. The discussions also focused on the investment opportunities available for Kuwaiti investors in the Egyptian market.
Additionally, the delegation participated in the Egyptian-Kuwaiti Investment and Business Forum, attended by a range of ministers and senior officials. The forum, which aimed to bolster economic and investment ties between Kuwait and Egypt, facilitated discussions on enhancing collaboration across various business, economic, and commercial sectors.
