President Abdel Fattah El Sisi received Wednesday Saudi prince and businessman Al-Waleed bin Talal to discuss ways of boosting Saudi investments in Egypt.

The Saudi tycoon, presiding over the Kingdom Holding Company, expressed his company's desire to increase its investments in Egypt during the coming period.

The Saudi businessman said the Kingdom Holding Company also plans to carry out more charity projects in Egypt, as his humanitarian institute would sign a cooperation protocol with the Egyptian government to build 10,000 residential units for the needy people in Egypt.

The prince also said that he would keep 10,000 feddans of his agricultural land in Toshka project at the Egyptian government's disposal to make use of it in its developmental plans in the region.

Prince Al-Waleed expressed his appreciation to Egypt and belief in the Egyptian government's ability to overcome challenges, reaffirming the high importance of Egypt's security and stability to the stability of the whole Arab world, presidential spokesman Alaa Youssef said.

He praised the project of the New Suez Canal, which was conducted in a record time, in accordance with international norms standards and with a complete Egyptian financing, saying it proved Cairo's willingness to achieve a comprehensive developmental renaissance.

Sisi hailed the supporting stances of Prince Al-Waleed to Egypt and his huge investments in the country, reflecting the historic deeply-rooted ties between Egypt and Saudi Arabia, Youssef said.

The Egyptian president underscored Egypt's insistence on removing any obstacles faced by the investors, especially the Arabs who enjoyed strong bonds with Egypt such as prince Al-Waleed.

Sisi also reviewed with the Saudi prince available investment opportunities in Egypt in different sectors, especially those in the Suez Canal region.

The meeting also tackled boosting bilateral ties in the various domains, the spokesman added.

Minister of Investment Asharaf Salman and Saudi Ambassador in Cairo Ahmad Qattan were present during the meeting.

Sources: MENA