Cairo – Mubasher: the UAE is aiming to invest in Egypt up to $14 billion over the upcoming five years, the UAE International Investors Council’s (UAEIIC) secretary general said.
In the light of the opportunities offered by promising Egyptian sectors and their absorptive capacity for massive UAE investments, the North African nation is seen as the most attractive investment destination worldwide, as per UAEIIC’s secretary general Jamal Saif Al Jarwan said in a statement by the Egyptian Ministry of Investment.
The announcement came during a visit to Egypt by UAE delegation.
Al Jarwan also called upon UAE investors to consider the opportunities offered by Egypt’s New Administrative Capital, which was established in line with international standards, with the aim to further engage private sector in the overall national economic development.
Investment and international cooperation minister Sahar Nasr said the ministry will ensure to attract more UAE investments.
UAE investments have totalled $7.2 billion, with 1,165 companies operating in a variety of areas such as real estate, tourism, entertainment, oil and energy, food, agriculture, and information technology, Nasr added.
