Latest news with #Gulf countries
Zawya
31-07-2025
- Business
- Zawya
Egypt's PM reviews ongoing investment talks with Gulf states
Egypt's Prime Minister Mostafa Madbouly chaired a meeting on Wednesday to discuss major investment opportunities currently under negotiation with several Gulf countries. The meeting was attended by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir; Minister of Finance Ahmed Kouchouk; Minister of Investment and Foreign Trade Hassan El-Khatib; Minister of Public Business Sector Mohamed Shimi; Minister of Petroleum and Mineral Resources Karim Badawi; along with senior officials from the relevant ministries. Madbouly stressed that, as part of the government's strategy to actively promote investment in promising sectors and strengthen Egypt's economic competitiveness, the state is focused on showcasing the most viable projects and advancing executive measures to attract more foreign direct investment (FDI). Cabinet Spokesperson Counselor Mohamed El-Homsany noted that the meeting covered several projects under negotiation with Gulf partners across a range of sectors. These discussions aim to expand foreign investment and increase foreign currency inflows to support economic stability. He added that the meeting reaffirmed the government's commitment, as outlined in its action plan, to fostering both domestic and international investment by improving the investment climate and providing a package of incentives and facilitations. Gulf investments in Egypt have surged in 2025, led by the UAE's landmark $35bn Ras El-Hekma agreement—the largest FDI deal in Egypt's history—followed by Qatar's pledge of $7.5bn in direct investments. Saudi Arabia, Kuwait, and Bahrain have also stepped up their engagement, bringing total Arab investments to $41.5bn. These funds primarily target strategic sectors such as real estate, infrastructure, logistics, and energy, underscoring growing Gulf confidence in Egypt's reform agenda and economic potential.
LBCI
12-07-2025
- Politics
- LBCI
US envoy Tom Barrack clarifies Syria remarks: Not a threat to Lebanon, but a vision for coexistence
U.S. envoy Tom Barrack sought to clarify his recent remarks on Syria, stating they were intended to highlight Damascus' rapid progress—not to suggest any threat toward neighboring Lebanon. 'My comments yesterday praised Syria's impressive strides, not a threat to Lebanon,' Barrack said in a post on X on Saturday. 'I observed the reality that Syria is moving at light speed to seize the historic opportunity presented by President Trump's lifting of sanctions.' Barrack pointed to signs of Syria's reintegration in the region, citing investment from Turkey and Gulf countries, renewed diplomatic outreach, and what he described as 'a clear vision for the future.' Amid speculation over potential Syrian pressure on Lebanon, Barrack stressed that Damascus' intentions are rooted in regional partnership. 'I can assure that Syria's leaders only want coexistence and mutual prosperity with Lebanon,' he said. 'The United States is committed to supporting that relationship between two equal and sovereign neighbors enjoying peace and prosperity.'
