Cairo – Mubasher: The Abu Dhabi Investment Authority (ADIA) plans to invest $2 billion in the Egyptian market in the second half of 2018.
The Emirati government, banks, and investors will be directing towards investing in Egypt over the coming period, mainly in the electricity, oil, and infrastructure sectors, head of the Arab Union for Direct Investment (AUDI) Mohamed Sameh told Al-Ahram Newspaper.
The GCC investments in the most populous Arab country will double in line with launching the government initial public offerings (IPOs) programme on the Egyptian Exchange (EGX), according to the state-run newspaper.
It is worth noting that Egyptian President Abdel Fattah El-Sisi had met with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan two days ago in Cairo.
In March, Egyptian trade minister Tarek Kabil announced that trade exchange between Egypt and Abu Dhabi had grown by 20% over the past three years.
