EGYPT – Elsayed Elkosayer, the Minister of Agriculture and Land Reclamation, convened with Saudi investors, spearheaded by Anwar bin Hasusah, the Saudi commercial attaché in Cairo on strategies to increase agricultural investment in Egypt.
The meeting focused on ways to enhance and increase Saudi agricultural investment in Egypt. During the meeting, Elkosayer emphasized that Egyptian-Saudi relations are strategic at all levels, and that there is a special bond between the political leadership in the two countries.
The Minister of Agriculture stressed that investment in the agricultural sector is promising, and that the state is keen on creating a climate for local, Arab, and foreign investors.
He noted that areas of agricultural investment include plant, animal, fish, and poultry production as well as food manufacturing.
Elkosayer also pointed out that Saudi investments in Egypt receive great attention from the state and seek to increase them, as it has recently witnessed great development in all fields.
He presented to the delegation of Saudi investors some opportunities ready for investment in agricultural development projects.
He added that his office is open to serious investors to facilitate procedures for them and help them overcome all obstacles they face.
Saudi investors praised the Egyptian-Saudi relations, and the achievements that Egypt has recently made, stressing that they seek to increase their investments in Egypt, especially in the agricultural field after their success in real estate investment.
The meeting was attended from the Egyptian side by Moustafa El-Sayed, Deputy Minister of Agriculture for Livestock, Fish, and Poultry; Mohamed Soliman, Head of the Agricultural Research Center; and Mohamed El-Shahat, Executive Director of Projects of the Agricultural Reconstruction and
Egypt raises agriculture, irrigation investments by 71% YoY for FY2023/2024
Additionally, Egypt’s commitment to agricultural and irrigation growth is evident in the Ministry of Planning and Economic Development’s report.
The government has substantially increased investments in the sector by 71% YoY to EGP 116.6 billion (USD 3.77 billion) for FY 2023/2024.
The plan includes a significant boost in private investments and aims to elevate the total value of agricultural production in Egypt by 4.1% YoY to EGP 1.34 trillion (USD 43.30 billion).
Agriculture remains a pivotal sector within Egypt’s economic reform program, contributing significantly to GDP, labor force, and non-oil merchandise exports.
Minister Hala El-Said highlighted its pivotal role, constituting 12% of GDP, engaging 20% of the labor force, and forming a cornerstone of Egypt’s non-oil exports, aligning with the country’s economic and social reform agenda.
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