- JEDDAH: Saudi-Egyptian Business Council (SEBC) Chairman Abdullah Saddiq Dahlan on Wednesday assured Saudi investors that their investments in Egypt are safe after the Jan.
- 25 revolution.
The Egyptian prime minister and the finance minister have reiterated their commitment to protect those investments, he added.
Dahlan said the two Egyptian officials called for more Saudi investments in their country.
Talking to Al-Eqtisadiah, a sister publication of Arab News, Dahlan also expressed confidence in the Egyptian justice system and said it was solid and integral before and after the revolution.
He said there was a direct channel of communication between the Saudi Council of Chambers and the Egyptian Investment Authority to ensure the safety of Saudi investments in Egypt.
Dahlan urged Saudi businessmen not to be disturbed by the recent decision of an Egyptian administrative court, which abrogated the sale contract of Omar Effendi, Egyptian supermarket chain, to a Saudi private company.
“This case was being looked by the Egyptian courts long before the revolution,” he said.
Dahlan said he and the Chairman of the Council of Saudi Chambers of Commerce and Industry, Saleh Kamel, received direct and strong assurances from the Egyptian government about the investments.
Egyptian officials reportedly said the Egyptian government would scrutinize all the papers concerning the Saudi investment projects signed during the previous regime.
Many Saudi investors expressed fears about their funds in Egypt after a court in Egypt ruled that the contract to buy Omar Effendi shops by the Saudi Al-Anwal United Trade Company was null and void.
“The SEBC is ready to look any the case of any Saudi company or a Saudi investor who might have been subjected to injustices after the revolution except for operational problems, which everyone is suffering from,” he said.



