Saudi, Kuwaiti investments boost Cairo, Sphinx airports
Egypt received offers from Saudi Arabia and Kuwait to invest in projects to expand the Cairo and Sphinx international airports, as part of efforts to boost tourism and put Egypt on the global transit map.
Egypt’s Minister of Civil Aviation Mohamed Manar Enabah announced Dec. 12 that his ministry had received investment offers from Saudi Arabia and Kuwait to compete in the bids for cargo village projects at Cairo International Airport and the Sphinx International Airport.
Saudi investments rank first among Arab countries investing in Egypt, and second in terms of global investment. Total Saudi investment in Egypt in 2019 stood at $54 billion, of which $44 billion is allocated to Saudi companies or their partners in Egypt, whose numbers total 5,392. There was $10 billion in Saudi government investments through the Public Investment Fund of Saudi Arabia in 2019.
