Prime Minister Moustafa Madbouli said on Wednesday 26/10/2022 UAE has always been among the first supporters of the Egyptian state in critical times.
Madbouli added addressing celebrations of 50th anniversary of Egypt-UAE relations that the occasion is an important chance to be invested to develop common denominators and assert meanings of brotherhood in the single Arab body.
The celebrations are sponsored by President Abel Fattah El Sisi, under the theme “Egypt And UAE Are One Heart.”
Madbouli said Egypt and Egyptians have always been keen on contributing with their efforts in UAE in fields of education, health, culture and justice.
Madbouli lauded the volume of UAE investments in Egypt, saying the direct UAE investments in Egypt reached $4.6 billion in the first nine months of the fiscal year 2021/2022.
According to Madbouli, the UAE is the first country to allocate investments to Egypt with a share of 29% of the total foreign investments flowing to the country in this period and about 72% of the total Arab investments flowing to Egypt in the same period.
Egypt is keen on building successful economic partnerships with the UAE by implementing a number of productive projects, especially in the agricultural and industrial fields, to increase the levels of self-sufficiency, Madbouli pointed out.
Egypt also eyes the effective participation of UAE investors in offering programs under the umbrella of the State Ownership Policy Document, the prime minister noted.
He asserted the importance of coordination and cooperation between the Sovereign Fund of Egypt and the sovereign funds in the UAE to implement projects in priority areas between the two countries to maximize the return on the investment assets of the two countries.
He also noted that this celebration is an opportunity to tackle investment opportunities between the Egyptian and UAE businesses in the sectors of health, pharmaceutical manufacturing, real estate development, financial services, digital transformation, infrastructure, communications, agriculture, and food processing.
Source: State Information Service Egypt