The value of investments owned by the UAE in Egypt exceeded $5 billion so far, said Egypt’s Minister of Planning Ashraf El Araby.
According to UAE’s Al-Bayan gazette, UAE companies are operating in various sectors in Egypt, mainly housing, trade, oil and sewage.
The minister added that the UAE will invest in Suez Canal Axis proect and the logistics hub for grain storage and trade.
El Araby explained that, as per the cooperation agreement signed between Egypt and GCC states, the UAE will contribute to the financing of several projects in Egypt, topped by the building of one million housing units in tie-up with UAE’s contractor Arabtec.
The telecommunications sectors took the biggest share in UAE’s investments in Egypt, with nearly $2.74 billion. It was followed by industrial sector ($444 million).
The UAE’s investment in Egypt’s construction and tourism sectors amounted to $359 million and $257 million respectively.
The UAE ranked as the third biggest Arab investor in Egypt, second to Saudi Arabia.
According to UAE’s Al-Bayan gazette, UAE companies are operating in various sectors in Egypt, mainly housing, trade, oil and sewage.
The minister added that the UAE will invest in Suez Canal Axis proect and the logistics hub for grain storage and trade.
El Araby explained that, as per the cooperation agreement signed between Egypt and GCC states, the UAE will contribute to the financing of several projects in Egypt, topped by the building of one million housing units in tie-up with UAE’s contractor Arabtec.
The telecommunications sectors took the biggest share in UAE’s investments in Egypt, with nearly $2.74 billion. It was followed by industrial sector ($444 million).
The UAE’s investment in Egypt’s construction and tourism sectors amounted to $359 million and $257 million respectively.
The UAE ranked as the third biggest Arab investor in Egypt, second to Saudi Arabia.
Source:
Mubasher
