Abu Dhabi, UAE – The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC) said.
It totaled $28 billion at the end of the first quarter of 2023, compared to $20 billion during the same period in 2020, a 40 percent increase, he noted.
Al Jarwan said that the UAE and Egypt share historic deep-rooted relations and lauded the economic and investment cooperation between the two countries, which has witnessed significant overall development.
He highlighted the mutual keenness of the two countries to increase the value of Emirati investments.
The strong economic and investment ties between the two countries underscore the close relationship between their leaderships, he added.
The two countries also aim to increase this figure to $35 billion over the next decade in tourism, education, logistics, food industries, clean and renewable energy, aviation, pharmaceuticals and transportation, he further added.
The Egyptian market has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, retail, oil and gas, ports, agriculture, hotels and services, he pointed out.