ADQ invests $10B in Egypt, Jordan

CAIRO - 29 May 2022: Abu Dhabi Developmental Holding Company PJSC (ADQ) will allocate an investment fund of $10 billion to invest in projects emanating from the integrated industrial partnership between the UAE, Jordan and Egypt in the agreed sectors.

 

Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and the UAE's Special Envoy for Climate Change, announced the integrated industrial partnership between the UAE, Jordan and Egypt, at the conference held in Abu Dhabi on Sunday, May 29.

 

 

Al Jaber said in his speech during the conference that the integrated industrial partnership comes as a translation of the vision of Sheikh Mohamed bin Zayed Al Nahyan, President of the State, which focuses on building long-term strategic partnerships that contribute to enhancing stability, supporting growth, progress and achieving economic and social prosperity.

 

He added that through this partnership, a new model of integration, cooperation, coordination and qualitative partnerships will be presented with brothers in the Arab world and friends all over the world, pointing out that the industrial sector is an essential element for growth in light of the capabilities that countries possess in this field.

 

“Today, the UAE is entering a new phase, under an exceptional leadership that looks forward to the future and focuses its efforts on enhancing security and safety, peace and stability, as essential enablers of growth and prosperity that serve humankind, in the Emirates, the region, and the world at large,” the minister said.

 

He added that in 2019, the petrochemical industry's contribution to the gross domestic product (GDP) in Jordan, the UAE and Egypt combined was $16 billion, which provides promising opportunities for the development of this sector and its related industries, valued at more than $21 billion.

 

Al Jaber stressed that the ambitious partnership between the UAE, Egypt and Jordan will lead to providing industrial opportunities with added economic value estimated at billions of dollars, in addition to developing more joint industrial projects in the future.

 

He added that the UAE has historical brotherly relations that bring together all levels in all sectors with Jordan and Egypt.