Based on its important role in strengthening commercial and industrial relations with the sisterly Arab countries and attracting investments to the Egyptian market in various promising industrial sectors, Major General Engineer Mokhtar Abdel Latif, Chairman of the Arab Organization for Industrialization, witnessed the ceremony, in the presence of His Excellency Ambassador Dr. Osama bin Ahmed Naqli. The Ambassador of the Kingdom of Saudi Arabia in Cairo, signing a memorandum of understanding between the Arab Organization for Industrialization and the Egyptian-Saudi Alliance between the companies ALUPCO Industrial - Okta International, a member of Dunes Investment Group - Egyptian City Edge), regarding the logistical supply of real estate development projects in the Kingdom of Saudi Arabia, which the alliance will

implement. In the Kingdom and elsewhere.

The Egyptian-Saudi alliance is represented by Dr. Abdel Latif Al-Mubarak, Chairman of the of the Aluminum Products Industries Company (ALUPCO), Engineer Bahaa El-Din Al-Shafi’i, Vice Chairman of the Board of Directors of Dunes Investment Group, Dr. Khaled Abdel Moneim, CEO of the company, and Dr. Khaled Maatouk, CEO of Okta and Dunes Investments, and Dr. Mohammed Al-Dahan, CEO of City Edge.

The importance of this cooperation comes in light of the momentum witnessed by Egyptian-Saudi economic, trade and investment relations during the current period, and in order to enhance the increase in the rates of trade exchange between Egypt and Saudi Arabia.

In this context, Major General. Engineer Mokhtar Abdel Latif expressed his appreciation and pride in this cooperation with the Egyptian-Saudi alliance, especially since the Kingdom of Saudi Arabia is one of the Arab countries that founded the Authority in 1975.

Pointing to the AOI’s interest in implementing the directives of President Abdel Fattah El-Sisi to strengthen partnership with our brothers in the Arab countries, especially in light of the availability of an attractive and promising climate for investments that Egypt is currently witnessing, in addition to the Arab Organization for Industrialization enjoying the flexibility provided by its international regulations, through which it welcomes the conclusion of partnerships with... Arab brothers in the fields of manufacturing and investment.

He explained that the areas of cooperation include supplying supplies and local manufacturing for the needs of real estate development projects in the Kingdom of Saudi Arabia by exploiting the advanced manufacturing capabilities of the factories and companies of the Arab Organization for Industrialization, and participating in the logistical supply of real estate development projects in the Kingdom of Saudi Arabia, which the alliance will implement in the Kingdom, amounting to the equivalent of one billion. US dollar in the coming period.

He added that the Arab Organization for Industrialization is keen to establish fruitful strategic partnerships, and looks forward to strengthening cooperation with the Egyptian-Saudi alliance, in many investment projects, which support further consolidation of cooperation between the two brotherly countries and create large and distinctive job opportunities and investments, as well as increasing export opportunities to the Saudi market. Arab and African countries.

For his part, Dr. Osama bin Ahmed Naqli   , Ambassador of the Kingdom of Saudi Arabia to Cairo, praised the important role played by the Arab Organization for Industrialization in the areas of strategic industries, stressing the Kingdom of Saudi Arabia’s welcome and support for everything that supports ways of cooperation between the two countries and opening investment horizons for Egyptian companies and exchanging Experience and integration between the two sides, for the benefit of the two brotherly peoples, especially since the coalition parties have the reputation and high regional technical capabilities to implement these pioneering programs.

In turn, Dr. Khaled Maatouk, businessman, CEO and Managing Director of Okta International and Dunes Investment Group, praised the importance of this alliance, which comes as a culmination of the success of Okta and ALUPCO   in exporting Egyptian products of international quality to the construction sector in the Kingdom of Saudi Arabia in the past two years with major projects. At a time when both countries are working to open more horizons of cooperation between the two sides and consolidate strategic partnerships between the two sides, stressing that “Okta” has the necessary expertise to cooperate with all parties participating in the agreement for manufacturing, managing logistical operations and supply chains, and exporting needs in accordance with international requirements and specifications. Explaining the company's response to the political leadership's call to work to support the areas of local manufacturing, export, and cooperation between Egyptian private sector companies, the government sector, and Arab and international companies, in order to provide job opportunities and hard currency.

For his part, Engineer Khaled Abdel Moneim, CEO of Aluminum Products Company (ALUPCO), a pioneer in investing and manufacturing hundreds of industrial products with a distinguished presence in the markets of 28 global countries, explained that this alliance comes within the framework of the significant growth witnessed by the Saudi real estate market. In light of the vision of His Highness Crown Prince Mohammed bin Salman for the Kingdom of Saudi Arabia in 2030, he pointed out that ALUPCO Industrial Group is working to achieve cooperation with Egyptian companies, whether at the governmental level or the private sector, hoping that this cooperation will benefit both sides.

While Dr. Mohamed Al-Dahan, CEO of City Edge, confirmed that the company, as one of the largest national real estate development companies affiliated with the Ministry of Housing, is working to expand these alliances, indicating that these partnerships express the state’s general orientation to support the national economy through cooperation between affiliated companies. For the government and private sectors, as well as consolidating relations between Egyptian and Arab companies, and building an integrated and solid industrial strategy.