Sharm El-Sheikh – Mubasher: Egypt has contributed much to the human civilization along history and the Arab world as well as the whole world benefitted from its contributions, said UAE’s minister of state Sultan bin Ahmed Sultan Al Jaber.

“The UAE welcomes Egypt’s re-emergence as a strong regional economy that takes full advantage of its educated work force, its young and growing consumer base, and its strategic location at the nexus of Europe, Asia and Africa,” said Al Jaber.

He added that the move to help stabilize Egypt’s economy and continued investment in building the country’s human capital demonstrates a deeply held belief that a strong Egypt is central to the prosperity of the entire Middle East.

“Now is the time for Egypt’s international partners to similarly demonstrate their genuine commitment to support Egypt with both words and deeds,'' Al Jaber stressed in an opinion article published in the ''Wall Street Journal'' on the occasion of Egypt Economic Development Conference in Sharm El Sheikh.

The UAE will be participating in Egypt’s economic summit in Sharm El Sheikh.

''The United Arab Emirates, like all Arab countries, shares the inheritance of Egypt’s centuries of contributions to the region and the world. We have been friends and partners with Egypt since before the inception of our young country, and we were eager to mobilize significant human and financial resources to assist our neighbor during its time of need. Egypt’s stability is our stability,'' he added.

Over the past two years, working as close partners, the UAE and Egypt have deployed significant capital. A joint Egyptian-Emirati task force completed many projects identified as priorities. The UAE is also investing heavily in educating the next generation of Egyptian job creators. More than 100,000 young people have received vocational training through a program that intends to address 50% of the country’s job-market needs in targeted sectors such as construction and the chemical industry, according to the minister.

He added that global rating agencies Fitch and Moody’s upgraded their outlook for Egypt’s economy, while Morgan Stanley Capital International ranked Egypt’s market as the best performer for the year 2014, with 31% yields.

The International Monetary Fund expects Egypt’s economy to grow by 4.3% in the fiscal year 2015/2016.