A delegation from the Council of Saudi Chambers, chaired by Dr. Sami Al-Obaidi, the President of the Council, participated in the opening of the fourth session of the Egypt Investment Forum under the title "Together to Africa" ​​in Cairo.

Egypt's Minister of Trade and Industry, Amr Nassar, said during his opening speech on behalf of Egyptian Prime Minister Dr. Mostafa Medbouli that Egypt is keen to support the development efforts in the African continent and to develop mechanisms of African strategic integration and partnership to elevate Africa's position on the world economy map, which contributes to ensuring the economic and social prosperity of all countries and Peoples of the continent.

The President of the federation of African, Mediterranean and Egyptian Chambers of Commerce and Vice President of the Union of Islamic Chambers, Ahmad Al-Wakil, announced the establishment of the Union of Red Sea Chambers along the lines of the Mediterranean Chambers and benefiting from its expertise in this field.

He pointed out that the new union will include associations of Arab and African chambers bordering the Red Sea, with the aim of promoting transport, logistics, trade and investment, proposing that Egypt host it at the headquarters of the new African Chambers Union and starting to play its role in development.

He stressed the aspiration for inviting the world to invest in Africa, as the African continent offers promising investment opportunities, especially in agriculture, new and renewable energy, manufacturing and multimodal transport.

The two-day forum will discuss triangular cooperation towards Africa, cooperation in the urban development and infrastructure, and the digital economy and financial inclusion, as well as the review of investment opportunities in energy, electricity and gas networks, and the mechanism of developing Egypt as a regional center for industrialization for export.