Wed 01-11-2023 21:40 PM
ABU DHABI, 1st November, 2023 (WAM) — The UAE Ministry of Investment, led by Minister Mohamed Hassan Alsuwaidi, headed a delegation to Egypt earlier this week to discuss investment opportunities in the country, to enhance bilateral relations and to identify avenues for economic growth.
The UAE delegation comprised of leaders from five notable organisations: ADQ, Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company, Abu Dhabi Investment Authority (ADIA), Abu Dhabi Fund for Development, AD Ports Group (AD Ports), and Al Dahra, all of which are investors in Egypt.
Mohamed Hassan Alsuwaidi praised the depth of economic ties between both nations and emphasised that the visit aimed to expand bilateral investment cooperation in strategic sectors between both countries to ensure continuous momentum and sustainable growth.
The UAE delegation met with Egyptian officials and sector leaders during the visit. Discussions focused on developing tangible pathways for increased economic engagement and expanding the UAE’s investment footprint in Egypt across major sectors to promote economic development.
Egyptian government officials unveiled an array of investment opportunities spanning various sectors. Sectors discussed included clean energy, mobility, food and agriculture, pharmaceuticals, infrastructure projects, real estate development, technology and more. With a focus on fostering international partnerships and capitalising on Egypt’s strategic offering, the opportunities discussed promise to be highly accretive for international investors seeking long term value and growth.
The UAE is currently Egypt’s largest foreign direct investor with more than 1,250 UAE companies currently operating in Egypt across major economic sectors and continue to explore broader areas of opportunity.
Khoder Nashar