7/22/2025–|Last update: 18:47 (Mecca time)
The Egyptian Minister of Transport and Industry, Kamel, discussed with Kuwaiti Prime Minister Ahmed Abdullah Al -Ahmad Al -Sabah “to activate the transfer of the deposit of the State of Kuwait with the Central Bank of Egypt into investments.”
This came during a meeting between the two sides on the sidelines of a visit to the Egyptian official to Kuwait, according to a statement transferred by the Egyptian Cabinet on Tuesday.
The statement stated that Al -Sabah “emphasized the depth of the bilateral relations that combine Egypt and Kuwait, and welcomed cooperation with Egypt in various fields and the efforts made to support joint cooperation in various fields, including the industrial and transportation sectors.”
During the meeting, which was held on Monday, “the two sides discussed ways to maximize and attract Kuwaiti investments to Egypt in the field of seaports, dry ports, logistical areas and industrial areas.”
The meeting also discussed ways to register Egyptian companies in the government tenders committee in Kuwait, in a way that contributes to providing them with an opportunity to compete for the implementation of the various projects offered by the State of Kuwait.
According to the statement, the two sides discussed “the activation of the transfer of the deposit of the State of Kuwait to the Central Bank of Egypt into investments in Egypt” without specifying the value of the deposit or the resulting talks.
Bloomberg news agency quoted unnamed sources last April as saying that “Kuwait is in advanced discussions to transfer its depositary, estimated at $ 4 billion with the Central Bank of Egypt into investments in Egypt.”
According to the same source, “The Egyptian and Kuwaiti sides agreed in principle to transfer, and Kuwait may invest at least half the amount by the end of this year, distributed over several sectors and assets,” which the authorities of the two countries did not comment until today.
Since 2014, Kuwait has retained 4 billion dollars in deposits of two SIMs with the Central Bank of Egypt with the aim of supporting the Egyptian economy.
In 2024, the UAE has previously turned its deposit with the Central Bank of Investments in a huge project in the city of Ras Al -Hikma in the west of the country, according to previous Egyptian data.
