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Over 877 Emirati firms invest AED 40bn in Egypt

Over 877 Emirati firms invest AED 40bn in Egypt
An Emirati business delegation will visit Egypt

Dubai – Mubasher: The UAE International Investors Council’s (UAEIIC) ordinary general meeting, headed by economy minister Sultan bin Saeed Al Mansoori, recommended that Egypt should be the main destination for national investments.

A delegation includes representatives from 20 major Emirati companies will visit Egypt, among them Majid Al Futtaim Group, Emaar Group, DP World, Dubai Investments, and Dana Gas, UAEIIC’s secretary general Jamal Saif Al Jarwan stated.

UAE’s investments in the North African nation registered over AED 40 billion by the end of 2017 – including a $1 billion project with the Egyptian government for sugar production and the opening of new 100 Carrefour shops in the most populous Arab country, Al Jarwan added.

Currently, more than 877 UAE’s companies operate in 15 sectors in Egypt, the top official concluded.