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Jan 06 2015
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Kuwait Second Largest Arab Investors in Egypt's Tourism Industry - Report
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By Ahmed El Demerdash
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General Authority for Investment and Free Zones
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Kuwait Second Largest Arab Investors in Egypt's Tourism Industry - Report
Photo Credit:Reuters/Amr Abdallah Dalsh
Kuwait is the second largest Arab investor in Egypt in tourism sector, according to a recent report by Egyptian investment authority.
The General Authority for Investment and Free Zones (GAFI)'s report stated that the Kuwaiti tourism investments in Egypt, through 103 companies, have totalled US$577.50 million.
Kuwaiti investments were in the second place after those from Saudi Arabia. Saudi tourism investments had hit US$932.75 million, through 268 companies.
Egyptian President Abdel Fattah al-Sisi arrived today in Kuwait in his first official visit, to initiate talks with Crown Prince of Kuwait Sabah Ahmad Al-Sabah.
The president has met a delegation of Kuwaiti businessmen and he assured Egypt's eagerness to receive more Kuwaiti investments and develop bilateral trade exchange between the two countries.
Many experts expected more flourishing economic and commercial relations between Kuwait and Egypt following Sisi's visit.
The Egyptian president invited the Kuwaiti private sector to visit Egypt and seize the country's available investments opportunities. | | |