GAFI discusses cooperation in construction sector with Saudi Arabia

Updated 6/3/2025 12:47:00 PM

Arab Finance: The General Authority for Investment and Free Zones (GAFI) received a Saudi government delegation to explore investment and partnership opportunities in the construction sector, as per a statement.

The delegation included representatives from the Saudi Ministries of Investment, Municipal and Rural Affairs and Housing, and the Saudi Contractor Authority, alongside members of the Egyptian Federation for Construction & Building Contractors (EFCBC).

GAFI's CEO Hossam Heiba highlighted the significant potential for investment collaboration between Egypt and Saudi Arabia, particularly in the construction sector, which has seen substantial growth in both countries in recent years.

He noted additional opportunities for joint ventures in African markets, where Egypt’s trade agreements and longstanding ties provide favorable access.

Heiba stressed the benefits of integration between Egyptian and Saudi construction firms, citing the rapid growth of the Saudi market as a chance for Egyptian companies to expand and build expertise.

He also pointed to the influx of Saudi investments into Egypt’s construction sector, characterized by strong local content and sustainable development impact.

He added that Africa presents a promising environment for the expansion of this bilateral cooperation.

Mohamed Abdulrahman Aba Al-Hussein, undersecretary at the Saudi Ministry of Investment, said the recently signed investment protection agreement between the two countries is expected to enhance cross-border investment flows.

He also extended an invitation to GAFI and the Egyptian business community to participate in the seventh edition of the Future Projects Forum, set to take place in Riyadh this September.

The event will showcase major upcoming Saudi projects and provide a platform for exploring new business opportunities.

Aba Hussein called for the development of a joint strategy to support the construction sector in both countries, noting the developmental role of Saudi investments in Egypt.

He added that the Saudi Investment Marketing Authority has issued 7,000 investment licenses to Egyptian entities, creating 80,000 jobs in the Kingdom.