Crown Prince's Cairo Visit: A Boost for Egypt-Saudi Relations

Saudi Arabian Crown Prince Mohammed bin Salman visits Cairo to discuss trade, investment, and regional crises with Egyptian President Abdel Fattah al-Sisi. The visit could result in significant Saudi investments in Egypt amid its ongoing economic struggles, including projects on the Red Sea coast and Sinai peninsula.

Saudi Arabian Crown Prince Mohammed bin Salman is set to visit Cairo on Tuesday. His agenda includes discussions on trade, investment, and regional crises with Egypt's President Abdel Fattah al-Sisi, according to Egyptian diplomatic sources.

This visit has sparked speculation about potential Saudi investments in Egypt, which has experienced a major influx of external financing this year, including a record $35 billion deal with the UAE's sovereign fund ADQ. Last month, Egypt's prime minister announced that Saudi Arabia planned to invest $5 billion in Egypt independently of other funds deposited in the Egyptian central bank.

Possible investment targets include tourism development sites on Egypt's Red Sea coast and southern Sinai peninsula, located opposite Saudi Arabia. Egypt is seeking large-scale investments to combat its ongoing economic crisis characterized by record inflation, a rising debt burden, and sharp currency devaluations over the past two years.

(With inputs from agencies.)