“We are now using Egypt to enter the European and African markets. The 80-year-old monarch is on a rare five-day trip to Egypt, a country that Riyadh views as a cornerstone to its ambitions in the changing region. Every pound in Egypt is fruitful.”. King Salman bridge to link Egypt and Saudi Arabia - YouTube The Egyptian president suggested to name the proposed structure "King Salman bin Abdulaziz Bridge".The entire project is expected to cost about 4 billion … He urged the need to amend the Arab-Arab cooperation strategies and should be in large and huge industries such as petrochemicals and mining, while other sectors such as tourism and real estate have not achieved any success at the level of employment. He said that the number of Egyptians in the kingdom is about 1.9 million, and if some of them return, they will bring benefits to Egypt thanks to the advantageous experience they gained in Saudi Arabia. He said that about $1.5bn out of $2.5bn have been allocated for Sinai development projects, while the remaining funds will be disbursed in 2019 and 2020. “We believe that Egypt has achieved the highest growth rate in the entire Middle East, including Saudi Arabia and the UAE,” he stated. The three elements are available in northern parts of Saudi Arabia and southern Egypt, and I hope to cooperate in this field both at the level of governments and private sector,” Bin Mahfouz said. He added that the activation of the fund is an economic decision and not a political one, and it will include major assets of both countries, so was delayed. Since Saudi investors’ visit to Egypt in March, several companies were established worth more than $8bn, said the Head of the Saudi Egyptian Business Council, Abdullah bin Mahfouz, in an interview with Daily News Egypt during his visit to Cairo on Monday accompanying the Crown Prince of Saudi Arabia Mohammed bin Salman. Bin Mahfouz expected to activate the Egyptian-Saudi investment fund, which is included in the agreements, soon, without specifying a date. "I believe that the special nature of the Saudi-Egyptian relationship ... will enable us to confront together shared challenges and to deal seriously with whoever tries to harm Arab national security.". A beaming President Sisi, who minutes earlier had presented the king with the ceremonial Nile Collar, suggested naming the structure the "King Salman bin Abdel Aziz Bridge". He continued: “We believe in investing in Egypt more than the Egyptians, who do not believe in it. He explained that the Saudi and Egyptian companies, if agreed, will implement large projects in the pharmaceutical sector aimed for exporting to Europe and Africa. The idea of a causeway between the two countries had been floated since the 1980s, especially by ousted Egyptian strongman Hosni Mubarak, but it never made it past the planning stage. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. A surfer is missing after a report of a "shark incident" at a beach near the coastal town of Esperance in WA's south.