According to Egyptian Prime Minister Mostafa Madbouly, the UAE’s foreign direct investment (FDI) in Egypt increased to US$ 4.6 billion in the first nine months of the fiscal year 2021–2022, making it the top FDI investor in the nation.
Wednesday’s “Egypt and UAE Are One Heart” festivities on the 50th anniversary of Egypt-UAE were addressed by Mostafa Madbouly.
According to Madbouly, the UAE has consistently been one of the Egyptian state’s strongest allies during trying times.
Madbouly went on to say that the event is a great chance to establish common ground and promote the idea of brotherhood within the larger Arab community.
Mr. President, Your Highness Recently, Sheikh Mohamed bin Zayed Al Nahyan and Abdel Fattah El Sisi, President of the Arab Republic of Egypt, conducted a number of meetings to discuss recent regional and international events and to mobilise efforts to build regional security and stability foundations.
According to the Egyptian prime, Egypt and Egyptians have always been eager to contribute to the UAE in the areas of justice, culture, health, and education.
The prime minister stated that Egypt is committed to establishing strong economic ties with the UAE by putting in place a variety of beneficial initiatives, particularly in the agricultural and industrial sectors, to raise the country’s levels of self-sufficiency.
According to Madbouly, Egypt is also interested in successful involvement from UAE investors in programmes being offered under the auspices of the State Ownership Policy Document.
In order to develop projects in key sectors between the two nations and maximise the return on the investment assets of the two countries, he also emphasised the need of coordination and collaboration between the sovereign funds of Egypt and the United Arab Emirates.