Egyptian Parliament Approves Investment Protection Agreement with Saudi Arabia
The Egyptian Parliament has approved a bilateral agreement with Saudi Arabia aimed at promoting and protecting mutual investments between the two countries, as well as strengthening their economic ties.
According to the Saudi Chambers Federation's account on platform 'X,' the agreement seeks to create optimal conditions for investment exchange between investors from both nations.
Among the anticipated benefits of the agreement are the establishment of a secure and attractive investment environment, an increase in capital flows and investments, and the creation of more job opportunities.
The agreement has received strong support from the leaderships of both countries, as well as ministers, ambassadors, the Saudi Chambers Federation, and the Saudi-Egyptian Business Council.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
11 hours ago
- Leaders
Saudi Crown Prince Discusses Region's Tensions with GCC, French, Italian Leaders
Saudi Arabia's Crown Prince Mohammed bin Salman discussed the escalating tensions in the region following the US attacks with GCC leaders through a series of phone calls on Sunday, according to the Saudi Press Agency. Series of Phone Calls On Sunday, Saudi Arabia expressed its deep concern over the recent strikes and urged restraint to avoid more escalation, the Saudi Foreign Ministry said in a statement. The Crown Prince held separate telephone calls with several Gulf Cooperation Council leaders including King Hamad bin Isa Al-Khalifa of Bahrain, Sultan Haitham bin Tariq of Oman, Emir of Qatar Sheikh Tamim bin Hamad Al-Thani as well as Emir of Kuwait Sheikh Meshal Al-Sabah. Furthermore, the prince received a phone call from UAE President Sheikh Mohammed bin Zayed Al-Nahyan. During the calls, the leaders discussed the latest regional developments, such as Israel's ongoing attacks on Iran and the US strikes on Iranian nuclear facilities earlier on Sunday. They stressed the unity and solidarity of GCC member states and emphasized the significance of collective efforts to exercise restraint, avoid further escalation, and seek diplomatic solutions to the conflict. On Sunday, Prince Mohammed also received a phone call from French President Emmanuel Macron and Prime Minister of Italy Giorgia Meloni. The calls focused on the latest developments in the Middle East and the consequences of the escalation of tensions in the region following the US strikes. US Strikes on Iran The US launched airstrikes on Sunday against Iran's nuclear facilities in Natanz, Fordow, and Isfahan. 'The United States showed that they have no respect to United Nations Charter. They have no respect to international law. They crossed a very big red line by attacking nuclear facilities,' Iranian Foreign Minister Abbas Araghchi said. Moreover, Araghchi accused Trump of not only betraying Iran by abusing its commitment to diplomacy but also deceiving his own voters by implementing the wishes of a war criminal. 'He has betrayed not only Iran by abusing our commitment to diplomacy but also deceived his own voters by submitting to the wishes of a wanted war criminal who has grown accustomed to exploiting the lives and wealth of American citizens to further the Israeli regime's objectives,' he added. Israel-Iran War On June 13, Israel launched a wave of airstrikes on Iran under the name of Operation Rising Lion. The military campaign targeted Iran's nuclear facilities and killed top military commanders and nuclear scientists. As a response, Iran launched a retaliatory wave of missiles against Israel and targeted Tel Aviv. Israel also killed three more Iranian nuclear scientists, bringing the total number of scientists slain to nine, Gulf News reported. Currently, both countries are trading missiles and attacks amid intensifying efforts to halt the conflict. Related Topics: Iranian FM Heads to Moscow for Urgent Talks with Putin What They Said After the US Struck Iran's Nuclear Facilities Saudi Arabia Expresses Deep Concern over US Strikes on Iran Short link : Post Views: 66
Leaders
13 hours ago
- Leaders
Iranian Parliament Approves Closure of Strait of Hormuz after US Strikes
The Iranian Parliament approved on Sunday the closure of the Strait of Hormuz following the US attacks that targeted Iranian nuclear facilities, according to Gulf News. Final Decision The measure was submitted to Iran's Supreme National Security Council to make the final decision, Iran's Press TV said on Sunday. 'The parliament has voted overwhelmingly in favor of authorizing the closure of the Strait,' state news agencies reported. Revolutionary Guards Commander Esmail Kosari told the Young Journalist Club that closing the Strait of Hormuz, a significant maritime corridor for global oil shipments, is on the agenda and 'will be done whenever necessary.' US Attacks on Iran The step comes less than 24 hours after the US airstrikes targeted Iran's nuclear facilities in Natanz, Fordow, and Isfahan. 'The United States showed that they have no respect to United Nations Charter. They have no respect to international law. They crossed a very big red line by attacking nuclear facilities,' Iranian Foreign Minister Abbas Araghchi said. Moreover, Araghchi accused Trump of not only betraying Iran by abusing its commitment to diplomacy but also deceiving his own voters by implementing to the wishes of a war criminal. 'He has betrayed not only Iran by abusing our commitment to diplomacy but also deceived his own voters by submitting to the wishes of a wanted war criminal who has grown accustomed to exploiting the lives and wealth of American citizens to further the Israeli regime's objectives,' he added. Israel-Iran War On June 13, Israel launched a wave of airstrikes on Iran under the name of Operation Rising Lion. The military campaign targeted Iran's nuclear facilities and killed top military commanders and nuclear scientists. As a response, Iran launched a retaliatory wave of missiles against Israel and targeted Tel Aviv. Israel also killed three more Iranian nuclear scientists, bringing the total number of scientists slain to nine, Gulf News reported. Currently, both countries are trading missiles and attacks amid intensifying efforts to halt the conflict. Related Topics: Iranian FM Heads to Moscow for Urgent Talks with Putin What We Know About the Iranian Nuclear Facilities Targeted in US Strikes Iranian FM to Attend Arab League, OIC Meetings in Istanbul Short link : Post Views: 20
Leaders
13 hours ago
- Leaders
Saudi Arabia Welcomes 116 mln Visitors in 2024
Saudi Arabia welcomed nearly 116 million domestic and inbound tourists in 2024, marking a significant milestone in the Kingdom's tourism sector, according to the Saudi Press Agency. The ministry also released its 2024 Annual Statistical Report on Saudi Arabia's tourism sector to highlight key indicators of tourism activity and review the sector's growth during the year. Minister of Tourism Ahmed Al-Khateeb stated that the report focuses on the efforts of the ministry and all stakeholders in Saudi Arabia's tourism ecosystem. According to the report, total tourism spending for domestic and inbound travel recorded approximately SAR284 billion, marking an 11% year-over-year growth. Furthermore, the Kingdom reached its highest-ever number of inbound tourists, with almost 30 million visitors in 2024, marking an 8% rise compared to 2023. Meanwhile, inbound tourism spending in 2024 surged to SAR168.5 billion, up 19% from the previous year. The Ministry of Tourism noted that this remarkable success was mainly driven by the efforts and support of the Saudi leadership in line with the Saudi Vision 2030. As for domestic tourism, the ministry reported noticeable growth with 86.2 million domestic tourists in 2024, representing a 5% increase compared to 2023. The domestic tourism spending also reached SAR115.3 billion in 2024. Related Topics: Saudi Arabia Sets Ambitious Target: 70 Million Tourists by 2030 Eid Al-Adha Brings Influx of Tourists to Haql's Scenic Beaches, Parks Saudi Arabia Targets Over 5M Chinese Tourists by 2030 Short link : Post Views: 19
