Egypt and Saudi Arabia inked four investment agreements in food industries, solar energy, metal industries, and real estate development and marketing, according to a press release.

The CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, witnessed the signing of the agreements on the sidelines of the Egyptian-Saudi Investment Forum.

Ahmed Samida, the CEO of Business City Group, and Hend Aloni, CEO of GCC Capital Partners Saudi Arabia, inked the first memorandum of understanding (MoU) to provide innovative investment solutions and attract foreign capital to invest in the Egyptian market in the sectors of poultry production and farming.

Fayadh Al Anzi, Director of the Saudi ASAS Holding Group, and Osama Hanafi, Chairman of Alcotech Engineering Industries, penned the second deal to establish a factory to produce aluminum cladding panels and their derivatives.

The project will be established on an area of 10,000 square meters, with an annual production capacity of 3.60 million meters.

The third deal was signed between Mohamed Kamal El-Din Othman, CEO of Nano Volt, and Amash Al Dafeen Al Subaie, Chairman of Aamal Al-Yusr Company.

This agreement covers marketing, sale, and installation of solar panels and their accessories in Egypt and Saudi Arabia.

Meanwhile, the fourth MoU was signed by Abdullah bin Obaid Al Ajmi, Chairman of Yafl Real Estate Marketing and Development Company in Saudi Arabia, and Omar Abdel Hay, CEO of Horizon Capital.

This agreement outlines cooperation in managing and developing the operations of Yafl Real Estate Marketing and Development Company.

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