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.


Dr. Nasser bin Mohammed Al-Aqeeli, vice rector at King Fahd University of Petroleum and Minerals

Updated 53 min 54 sec ago
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Dr. Nasser bin Mohammed Al-Aqeeli, vice rector at King Fahd University of Petroleum and Minerals

Dr. Nasser bin Mohammed Al-Aqeeli is the vice rector for applied studies and research at King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran.

He has been published more than 100 times in reputable journals and given lectures at more than 35 conferences. He has been involved in research grants exceeding SR120 million ($32 million) supported by companies and institutions such as the King Abdul Aziz City for Science and Technology (KACST), Saudi Aramco, KFUPM and Lockheed Martin Aircraft Industries.

Al-Aqeeli has 17 patents registered with the US Patent Office and three with the Gulf Patent Office. He got his bachelor’s and master’s degrees in mechanical engineering from KFUPM and his doctorate in materials engineering from McGill University in Canada.

He worked in the materials, science, and engineering department of MIT as a postdoctoral fellow and was a research scientist at Harvard.

Al-Aqeeli has won several awards, including the Almarai prize from KACST for creative achievement in 2015 and the Arab Creativity Award from the Arab Thought Foundation that same year. He is a member of the Minerals, Metals, and Materials Society, the American Society for Metals-International, and chairman of the board at the Arabian Journal for Science and Engineering.

Female students of KFUPM represented the Kingdom at Intel ISEF 2019 in Arizona, US. They won five major awards. Shouq Faisal Madani received a scholarship from the University of Arizona. 

Commenting on the achievement of KFUPM students, Al-Aqeeli said: “We are proud of the students of the university.”

He also vowed to take measures to promote and nurture local talent.