Prince Mohammad signs three cooperation deals during Egypt visit

05/03/2018 Argaam

 

Saudi Arabia signed on Sunday three agreements and investment memorandums of understanding (MoUs) with Egypt, in the presence of Crown Prince Mohammad bin Salman and Egyptian President Abdel Fattah El-Sisi, according to a statement on the official Saudi Press Agency (SPA).

 

The two countries amended a prior agreement to establish a Saudi-Egyptian investment fund between the Public Investment Fund (PIF) and Egypt’s Ministry of Investment and International Cooperation, and signed an MoU to activate the fund.

 

They also inked an agreement to encourage investment between Egypt’s General Authority for Investment and Free Zones and Saudi Arabia’s General Authority for Investment.

 

In addition, the Egyptian Ministry of Environment and its Saudi counterpart agreed to cooperate in the field of environmental protection and pollution reduction.

 

The crown prince is currently on his first official visit to Egypt.

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