The Malaysian investments in Egypt’s oil and gas sector reached nearly $9 billion, Malaysian Ambassador to Cairo, Mohamed Abd Rahman, said during the inauguration of the Malaysian-Egyptian Business Forum in Cairo.

Abd Rahman made his remarks during the Malaysian economic delegation’s first visit to Egypt in more than eight years, citing Akhbar El Yom Gate.

In the same context, the Egyptian-Malaysian Business Council’s Chairman, Sherif el Gabali, pointed out that the two countries recorded a commercial volume of about $550 million in 2018, noting that this amount is not up to the regional size of both Malaysia and Egypt.

Egypt plans to become a regional hub for the trade of liquefied natural gas (LNG) after a string of major discoveries in the Mediterranean, making the country self-sufficient in gas by the end of 2018.