Abdallah Dahlan Warns Of Iranian Investments in Egypt

A high-ranking Saudi economist said Iran is aiming at increasing investments in Egypt, as this threatens the  Gulf opportunities; calling for increasing the Gulf investments in Egypt.
Abdallah Dahlan, head of the Saudi-Egyptian Business Council, has pointed out that the Iranian funds are approaching Egypt; particularly after the government of Tahran announced its support for the Iranian investors who seeks to have projects in Cairo.
” I’m warning Gulf countries of Iranian investments in Egypt in the coming period, which will compete the Gulf investments in different fields”, Abdallah Dahlan said.
Dahlan’s statements came at time, in which the Saudi delegation is officially  visiting Egypt. The Saudi delegation is headed by Tawfiq al-Rabiah, the Saudi minister of industry and trade. The delegation includes a number of Saudi officials, businessmen and investors; and it aims at reaffirming and deepening the commercial and industrial relations between KSA and Egypt as strategic ones, in addition to discussing and resolving the obstacles.
It is expected that the meetings of the Saudi delegation with the Egyptian government will reach to solutions for the obstacles of Saudi investments and supporting their growth.
Dahlan has called on the Gulf counties to set investment strategy for doubling the investments in Egypt. He added that there are Iranian projects are being taken up at the current time, so the Gulf has to sustain the government and the Egyptian economy.
Egypt’s General Authority for Investment (GAFI) referred that the volume of the Iranian investments in Egypt has exceeded $ 331 million through 12 companies that registered in GAFI since 1970 to 2010. In case of restoring the relations between the two countries, these investments are supposed to be doubled, according to the statements of the Iranian President.