Cairo: President Abdulfattah Al-Sisi commended on Thursday the exemplary ties with Kuwait, which are rooted in mutual respect and constructive cooperation. This praise was expressed during a reception of a Kuwaiti investment delegation, led by Mohammad Al-Saqer, chairman of the Kuwaiti side of the Egyptian-Kuwaiti Cooperation Council.
According to Kuwait News Agency, Spokesman for the Presidency, Ambassador Mohammad Al-Shennawy, stated that President Al-Sisi welcomed the Kuwaiti delegation and affirmed his appreciation of the brotherly relationship he shares with His Highness the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. He also highlighted the strong fraternal ties between Egypt and Kuwait at various official and popular levels.
President Al-Sisi addressed the current challenges facing the global economy and the ongoing regional and international circumstances. He emphasized the need for intensified cooperation and integration among Arab countries, particularly given the unique nature of Egyptian-Kuwaiti relations as a model for constructive and fruitful cooperation based on mutual trust and respect.
The head of the Kuwaiti delegation conveyed a message from His Highness the Amir of Kuwait, expressing Kuwait's honor in supporting Egypt and recalling Egypt's supportive stance during the establishment of the State of Kuwait. He also affirmed the Kuwaiti private sector's commitment to supporting Egypt.
President Al-Sisi reiterated the pivotal role that businessmen and industry play in advancing cooperation between Egypt and Kuwait. He encouraged investment in joint projects that benefit both countries, stimulate economic growth, and provide job opportunities for future generations.
The President assured the delegation of the Egyptian government's keenness to enhance cooperation with Kuwaiti companies and increase their investments in Egypt. He expressed Egypt's readiness to provide all means to strengthen and develop partnerships with the Kuwaiti private sector.
During the meeting, the Kuwaiti delegation watched a documentary film showcasing significant existing and ongoing projects in Egypt, inviting Kuwaiti investors to participate. President Al-Sisi urged Kuwaiti investors to explore available opportunities in Egypt, benefit from the incentives and facilities provided by the state, and develop industrial cooperation by establishing partnerships between Egyptian and Kuwaiti companies, focusing on sectors with high added value.
He noted the vast and promising Egyptian market, which has substantial needs across various fields, allowing investors to achieve significant returns on investment. The meeting reviewed available opportunities in several promising sectors for investment cooperation.
The Kuwaiti delegation praised the significant development Egypt has achieved in infrastructure and its promotion of an attractive investment climate. They emphasized their commitment to enhancing partnerships with Egypt by expanding their investment presence in the Egyptian economy, in a way that meets the aspirations of the two brotherly peoples for cooperation and prosperity.
They underscored the importance of building upon the existing strategic partnership between Egypt and Kuwait. The delegation highlighted that Kuwaiti investments in Egypt have exceeded twenty billion dollars, spanning various sectors and involving over 1,000 Kuwaiti companies operating in Egypt. Additionally, more than 25 percent of the Kuwait Fund for Development's projects are located in Egypt.
Looking forward, they expressed their enthusiasm for enhancing Kuwaiti investments in Egypt and for Kuwait to play an active role in the upcoming "Egyptian-Gulf Investment Forum" that Cairo will host this year, especially amidst the unprecedented development renaissance that Egypt is experiencing.