Investments bet. Egypt, UAE may reach $ 15B

CAIRO - 24 January 2020: Volume of investments between Egypt and the United Arab Emirates may exceed official expectations to reach $15 billion, Secretary General of the Emirates Council for Overseas Investors Jamal al-Jarwan said.

He stressed, during the opening of the "Trade and Investment Opportunities between Egypt and the Emirates" conference, that Egypt is at the forefront of Arab countries and agencies that attract Emirati investments, according to the Emirates News Agency WAM.

He stated that the UAE is currently the largest investor in Egypt with a total investment exceeding AED 26.5 billion ($ 7.2 billion), considering that the Egyptian-UAE relations in all fields, especially economic, commercial and investment fields, witness a golden stage.

"Egypt currently has all the strengths that attract investors, as it has a strong economy that is growing at the fastest and highest global rate of up to 6 percent," he noted.

Jarwan pointed out that the Egyptian Government has proven in recent years great keenness in attracting investment, explaining that the Emirates Council for Overseas Investors places Egypt at the forefront of Arab destinations that attract Emirati investments, followed by the Kingdom of Morocco and the Kingdom of Saudi Arabia.

He showed the great successes achieved by Emirati companies investing in Egypt, such as: Emaar, Etisalat, Majid Al Futtaim and Dubai International Ports, contributed to motivating many other companies to go to Egypt, the most recent of which was Dragon Oil.