Cairo – Mubasher: The UAE’s direct investment in Egypt stood at $6 billion, Emirati minister of State for International Cooperation Reem Ebrahim Al-Hashimi said in a statement to the Egyptian Ministry of Investment and International Cooperation on Thursday.
The UAE is one of the biggest global investors in Egypt, Al-Hashimi added, stressing that Egypt is the first receiver of the UAE’s aids for four years in a row.
This came as part of the first meeting of the Joint Committee between Egypt and the UAE, which was held today in Abu Dhabi.
The Egyptian delegation was headed by the investment minister Sahar Nasr, while the Emirati delegation was headed by Al-Hashimi.
Nasr invited the UAE to boost investments in Egypt, encouraging Emirati businessmen to pump new investments in the country.
The Central Bank of Egypt had previously announced that foreign direct investment (FDI) in Egypt rose 14.5% to $7.9 billion in fiscal year 2016/2017, versus $6.9 billion in the prior fiscal year.
