Cairo – Mubasher: The presidential spokesperson, Bassam Rady, stated that Egypt and the UAE will establish a shared strategic investment platform at a total value of $20 billion for mutual investment.

Facilitated through Egypt’s Sovereign Wealth Fund and the Abu Dhabi Development Holding Company, the platform will include a wide range of sectors, fields, and assets, Akhbar Al Youm reported on Thursday.    

The partnership also aims to set up specialised funds or investment tools, to be used in several sectors, including manufacturing industries, conventional and renewable energy, technology, foods and real estates, tourism, health care, logistic services, financial services, and infrastructure among others.

Moreover, Egyptian president Abdel Fattah El-Sisi and Crown Prince of Abu Dhabi Sheikh Mohamed Bin Zayed Al Nahyan have witnessed the signing of three agreements and memorandums of understanding for cooperation in manpower, bilateral taxes, and insurance.

The pacts and protocols were inked during El-Sisi’s official visit to the UAE on Wednesday, 13 November.