Talks in Abu Dhabi to attract more UAE investments to Egypt

According to a statement by the Egyptian Ministry of Foreign Affairs today, the meeting discussed developments in the distinguished relations between the two countries and ways to develop these relations, in implementation of the joint directives issued by President Abdel Fattah El-Sisi and Sheikh Mohammed bin Zayed Al Nahyan, to work on further deepening these bilateral relations in various economic, investment and trade fields, in a way that benefits the two brotherly peoples.

The statement said that during the meeting, many Emirati projects and investments in Egypt were discussed in various sectors, most notably the energy and mining sectors, localizing industries related to new and renewable energy, and plans to increase these investments in Egypt.

The meeting also discussed the distinguished cooperation between the two countries in combating climate change and building on the achievements made at the climate change summits in Sharm El-Sheikh (COP27) and Dubai (COP28), especially with regard to issues of adaptation, loss and damage, and climate finance.

During the meeting, the two ministers agreed on the importance of continuing consultations between the concerned parties in both Egypt and the UAE, which would contribute to further deepening the existing cooperation relations between the two countries, especially in the areas of investment, in implementation of the directives of the leaderships of the two countries.

In the same context, they expressed their satisfaction with the boom witnessed by Emirati investments in Egypt and the work to increase them, especially in light of the favorable environment for investment in Egypt and the investment opportunities provided by the Egyptian economy, especially in light of the ambitious Egyptian plans to localize industry and advanced technology and increase Egyptian export capacities to save foreign currencies.

Source: RT