Egyptian Minister of Industry and Foreign Trade Hatem Saleh said Saudi Arabia is one of the biggest investing countries in Egypt, al-Arabiya television reported.

Saleh made the comments at the opening of the Saudi-Egyptian Business Council meetings on Wednesday (September 12th)

Saleh said Saudi investments in Egypt were more than $5.5 billion with 2,727 projects, making the country the third largest investor in Egypt. He added that Egyptian businessmen invested some $2.5 billion in Saudi Arabia with 1,300 projects.

Saleh held talks with his Saudi counterpart Tawfiq al-Rubaia as part of efforts to boost trade and economic relations between the two countries.