Egypt's AOI, UAE's Liwa Investment signs cooperation protocol

CAIRO - 15 June 2022: Egypt is now one of the largest investment-attracting markets in the region, thanks to the procedures of an integrated economic reform program, head of the Arab Organization for Industrialization (AOI), Abdel Moneim Al-Terras, confirmed.

 

Terras pointed out the importance of implementing President Abdel Fattah El-Sisi's directives to raise economic growth rates, create more job opportunities, localize technology, and increase the added value of the national industry, as well as strengthening partnership with major investment institutions in friendly Arab, African and international countries.

 

This came during the signing of a cooperation protocol between AOI and the UAE Liwa Investment Holding in the various fields of industrialization and green sustainable development.

 

He welcomed this cooperation, especially in light of the strong historical relations between the two countries, and areas of cooperation include sea water desalination plants, waste recycling plants, floating solar power plants, and other industrial fields.

 

Terras pointed to the importance of deepening local industrialization and localizing technology in accordance with the standards of the Fourth Industrial Revolution, in order to achieve an increase in the added value of the national industry.

 

Head of AOI added that the partnership was discussed in various industrial fields, noting that we aim with this cooperation to meet the needs of the local market and the Gulf, Arab and African markets.

 

For her part, Maitha Al Hamlei, Chairman of the Board of Directors of the Emirati Liwa Investment Group, praised the manufacturing and technological capabilities of the Arab Organization for Industrialization, the industrial backer of the Egyptian state.

 

She indicated that her country aims with this cooperation to establish long-term joint partnerships in all fields of industry, especially that the Egyptian market is large and promising and is of strategic importance to the Arab and African region.