Business executives from Saudi Arabia and Egypt agree to boost economic ties

Saudi, Egyptian businessman at a Business Forum in Cairo on Nov. 27, 2018. (Supplied photo)
Updated 30 November 2018
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Business executives from Saudi Arabia and Egypt agree to boost economic ties

RIYADH: The Council of Saudi Chambers (CSC) and the Federation of Egyptian Chambers of Commerce (FECC) have agreed a joint strategy to boost economic cooperation between the countries.
The CSC said that a high-level delegation took part in a Saudi-Egyptian Business Forum in Egypt, coinciding with a visit to Cairo by Crown Prince Mohammed bin Salman, during which the development of bilateral economic relations was discussed. Opportunities for cooperation in joint projects in Africa were also explored, along with ways for the two chambers to share their experiences in the areas of technical aid, finance, entrepreneurship and training.
The joint plan also includes the promotion of Saudi tourism in Egypt and a mechanism to help solve problems experienced by investors in both countries, and to enable the participation of Saudi businesses in the Egyptian Investment Conference next February.
The forum was organized under the patronage of Saudi Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi and Egyptian Minister of Electricity and Renewable Energy Mohammad Shaker.
Al-Qassabi praised the Kingdom’s efforts to create a better environment for investment between the two countries, while Shaker said the electricity sector in Egypt is growing at an accelerated rate, which offers many investment opportunities.
CSC Chairman Sami Al-Obaidy said that Egypt represents a major economic opportunity for the Kingdom, and that trade between the two countries grew to about $7.2 billion in 2017.
The Kingdom ranks first in terms of Arab investments in Egypt, with more than 2,900 projects worth more than $27 billion, of which the Saudi contribution exceeds $5.7 billion.


Saudi scouts in the US for world jamboree

Updated 22 July 2019
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Saudi scouts in the US for world jamboree

  • The 24th World Scout Jamboree runs from July 22 until August 2
  • 45,000 youths from more than 150 scout associations are participating

RIYADH: The Saudi Arabian Scouts Association will participate in the 24th World Scout Jamboree under the theme “Unlock a New World” at the Summit Bechtel Reserve, West Virginia, US.

The jamboree will run from July 22 until Aug. 2 with the participation of 45,000 young people representing more than 150 scout associations members of the World Organization of the Scout Movement.

Dr. Abdullah bin Suleiman Al-Fahad, vice president of the Saudi Arabian Scouts Association, said that the Kingdom’s delegation included more than 100 scouts and rover scouts between the ages of 14-17 and would include educational activities that promoted peace, intercultural understanding and life leadership skills.

He said that the jamboree slogan would also inspire scouts to become active citizens able to create a more sustainable world by identifying global issues such as climate change through activities including hiking and workshops so they could help themselves in a rapidly changing world.

The jamboree is the largest outdoor educational event organized by the Scout Movement, which serves more than 51 million youth worldwide.