Mr. / Ahmed Al-Wakil Chairman of the General Federation of Chambers of Commerce and Chairman of the Egyptian side in Egypt - Saudi Business Council, said that The visit of Saudi King Salman bin Abdulaziz, will have a significant positive impact on the Egyptian-Saudi relations in various economic areas, pointing out that the visit is basically had the a political nature only but there are no successful political relations without a well-established economic rules.

He added that the visit witnessed the declaration of a number of projects, including what is happening for the first time in Egypt, a project for food production inside Sinai with value of more than one billion pounds, pointing out that the arrangements which had preceded the official visit of the King of Saudi Arabia revealed a desire among Saudis to pump investments with more than $ 8 billion in Egyptian market over the next five years.

He said that there is a large concentration by the Saudi side to invest in the Suez Canal, especially in the field of logistics and maritime transport and the development of ports. It is most probably that Saudi investments in the axis of the Suez Canal will be more than 60% of the total new Saudi investments in Egypt.

He also pointed out that the Kingdom occupies the first place in terms of volume of investments in Egypt, which is about $ 27 billion and the number of Saudi projects in Egypt are 2800 projects including various productive, service and economic fields in addition to the assets owned by the Saudis that, ad while the number of Egyptian projects in the Kingdom amounted to $ 2.5 billion in about 1,300 investment projects.