Cairo, Egypt – The UAE’s foreign direct investment (FDI) in Egypt rose to US$4.6 billion in the first nine months of the fiscal year 2021-2022, making the UAE a topI investor in the country, Egyptian Prime Minister Mostafa Madbouly said on Wednesday.
‘’The UAE tops the list of FDI sending countries and is the first country to allocate investments to Egypt with a share of 29 percent of the total foreign investments flowing to the country in this period and about 72 percent of the total Arab investments flowing to Egypt in the same period,” Madbouly said during celebrations of the 50th anniversary of Egypt-UAE ties that was held in Cairo under the title “Egypt and UAE Are One Heart.”.
Madbouly added the UAE has always been among the first supporters of the Egyptian state in critical times.
The UAE president Sheikh Mohamed bin Zayed Al Nahyan, and Abdel Fattah El Sisi, President of Egypt held several talks recently to exchange views on the latest regional and global developments and to work together for security and stability in the region.
The Egyptian premier said Egypt and Egyptians have always been keen on making contributions to the UAE in the fields of education, health, culture and justice.
Egypt also eyes the effective participation of UAE investors under the umbrella of the State Ownership Policy Document, Madbouly said.
He also 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 maximise the return on the investment assets of the two countries.