The meeting was attended by Engineer Mohamed Sami, Head of the Egyptian Federation for Construction and Building Contractors, several members of the Federation, officials from the Ministry of Housing, and the Saudi Embassy in Cairo.
Minister El-Sherbiny underscored his pride in the ongoing
cooperation between Egypt and Saudi Arabia, warmly welcoming the delegation to
their "second home." He affirmed Egypt's full support and
appreciation, citing the strong ties between the leaderships and peoples of
both nations.
He expressed keenness to expand cooperation across all
shared sectors. This includes facilitating procedures for Egyptian companies to
enter the Saudi real estate development market and offering full support to
Saudi companies currently operating or looking to invest in Egypt.
During the meeting, Engineer Mohamed Sami, Head of the
Egyptian Federation for Construction and Building Contractors, expressed
gratitude to Minister El-Sherbiny for his unprecedented support to Egyptian
companies, specifically for coordinating new projects in Saudi Arabia. Sami
believes this support will lead to significant collaboration in the near
future.
He highlighted that the Saudi delegation's current visit has
already simplified procedures for Egyptian contracting companies to operate in
the Saudi market. This aims to boost opportunities for Egyptian contractors to
participate in the Kingdom's numerous development projects.
The Saudi delegation thanked Minister El-Sherbiny for the
warm reception, affirming their commitment to an integrated framework of
cooperation. This framework will involve the Egyptian Federation for
Construction and Building Contractors, Saudi Arabia's Ministry of Investment,
the Ministry of Municipal and Rural Affairs and Housing, and the Saudi
Contractors Authority. The delegation highlighted that this collaboration
reflects the deep bilateral relations between the two countries.
They further confirmed that Saudi Arabia welcomes Egyptian
investors and companies into its market, noting the presence of several
Egyptian companies already undertaking large projects in the Kingdom. The
delegation expressed a strong desire for an increase in Egyptian companies due
to their extensive experience in construction and building.
During the meeting, members of the Egyptian Federation for
Construction and Building Contractors proposed a joint work mechanism and
integration between Egyptian and Saudi companies. This initiative aims to expand
operations into other markets, leveraging the proven success of Egyptian
investments in Saudi Arabia to achieve even greater triumphs through
collaboration.
At the meeting's conclusion, Minister Sherif El-Sherbiny
lauded the proposal for Egyptian and Saudi companies to form alliances and
undertake large projects in new markets. He cited the partnership between Arab
Contractors Company and China's CSCEC as a successful model that could be
replicated by Egyptian and Saudi firms.
The Minister also reaffirmed his Ministry's commitment to supporting all investors, especially Saudi counterparts, by overcoming any obstacles. He emphasized the importance of exchanging expertise for constructive joint cooperation and stressed the need for continued meetings and coordination between both sides to develop a comprehensive cooperation plan and track its objectives.