Egypts parliament has officially approved the investment promotion and protection agreement signed between Egypt and Saudi Arabia last October.
The agreement, aimed at fostering mutual investments, was endorsed by the Egyptian legislature on Tuesday.
A statement from the Federation of Saudi Chambers shared on X on Tuesday, March 11, 2025, highlights that this approval will create favourable conditions for investment exchanges between the two nations.
It also noted that the deal would lead to increased capital flows, generate more job opportunities, and strengthen economic ties between the countries.
This agreement was signed during Saudi Crown Prince Mohammed Bin Salman's visit to Cairo in mid-October 2024, alongside the formation of the Egyptian-Saudi Higher Coordination Council.