Egyptian Prime Minister Ibrahim Mahlab met with leading South African businessmen and investors, hailing ties and cooperation binding both countries.

Egypt and South Africa are keen on boosting bilateral cooperation, he said, adding Egypt is witnessing remarkable political, economic and security stability.

Egypt is improving the investment climate through enacting laws that facilitate investments and also protect investments, Mahlab said.

He said Egypt is keen on luring foreign direct investments.

Mahlab stressed the importance of forming a joint business council between Egypt and South Africa.

He invited South African businessmen to visit Egypt in the next month for discussing steps to establish the joint council.