Egypt tapped for leading role in WB's 1.5b health coverage push    Asia-Pacific stocks mixed on Tuesday    Novartis plans expansion in Egypt – Cabinet    Egypt welcomes 25-nation statement urging end to Gaza war    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Madbouly reviews legalisation of newly annexed lands to new cities, housing offerings    Egyptian Countryside Development chief discusses cooperation with Italian ambassador    CIB completes fifth securitisation issuance for B.TECH worth EGP 859.4m    Roche helps Egypt expand digital pathology and AI diagnostics    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt exports 175K tons of food in one week    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt's Health Minister reviews upgrades at Gustave Roussy Hospital    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Egypt expresses condolences to Iraq over fire tragedy    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Prime Minister discusses with 30 Emirati investors investment opportunities in Egypt
We are keen to attract largest possible number of Emirati companies to operate in Egyptian market, says Madbouly
Published in Daily News Egypt on 29 - 05 - 2022

At the beginning of his visit to the United Arab Emirates (UAE), Egyptian Prime Minister Mostafa Madbouly met with a number of senior Emirati investors at his residence in the capital Abu Dhabi.
The visit aims to introduce Egypt's investment opportunities to attract more investments in the coming period.
The meeting was attended by Egyptian ministers and officials in the industry and investment sector. The Emirati side included Jamal Aljarwan Secretary-General of UAE International Investors Council, which includes in its membership the largest Emirati companies investing abroad, and Maryam Khalifa Al Kaabi, the UAE ambassador to Cairo.
Madbouly met with more than 30 senior Emirati businesspeople in several sectors, most notably industry, petroleum, energy, real estate, agriculture, communications, ports and logistics, tourism and aviation, information technology, financial markets, private investments, retail trade, and recycling.
He expressed Egypt's keenness for the presence of the largest number of Emirati companies in various fields on the land of Egypt, and for existing investors to expand investments in priority areas for Egypt, especially in light of repercussions imposed by the current global crisis on the region as a whole.
The Prime Minister pointed out that the government of Egypt is currently opening the field for foreign investment and increasing the contribution of the private sector.
He added that the projects currently being developed by the state during the past five years were necessary for the state to carry out, as huge investments in a short time.
Madbouly also presented the file of Egypt's economic reform measures, which the state took in 2016, noted that one of its goals was to reduce risks facing investment in Egypt.
Additionally, the state took economic reform measures, and completed a programme with the IMF, and work is currently underway on a new programme with the Fund due to the global crisis, which will be announced within a short period. The new programme aims to give a state of stability and confidence to the economy, and reassurance to all investors inside and outside Egypt, in addition to our vision towards challenges facing Egypt, the Prime Minister disclosed.
The Prime Minister noted, "Goals that we are working to achieve are for the private sector's contribution to total investments to reach from 30% currently to 65% within three years. The largest in these total investments and at the same time we are working on offering some assets to the private sector to acquire percentages of them, and we estimated this at about $40bn over four years, with an average of $10bn per year."
Madbouly highlighted that the state will focus during the next period on specific sectors, and explained that the industrial sector has the first priority for Egypt now.
Madbouly highlighted that the state will focus during the next period on specific sectors, and explained that the industrial sector has the first priority for Egypt now.

He disclosed, "Our presence today comes to develop a tripartite strategy between Egypt, the UAE and Jordan to achieve integration in the industry sector. Moreover, the real estate development sector is very important, there are "very successful" experiences from our brothers in the UAE in investing in this sector in Egypt, and in this regard I welcome the expansion of their investments in this important field in Egypt."

Madbouly added that he is personally responsible for facilitating any procedures for obtaining approvals, licenses and permits for investors' projects, as long as there will be investments.

Emirati companies working in agriculture in Egypt said: "Agricultural sector is also a top priority for the Egyptian state, and we are now building infrastructure for agricultural lands obtained by the investors. Besides, there has already been a great boom in areas such as Toshka and East Al-Owainat, as well as the West Minya region as a promising region as well, in addition to two large projects we are working on in the New Delta region in northern Egypt."

The integrated industrial partnership for sustainable development between Egypt, UAE and Jordan is a continuation and strengthening of brotherly relations. This partnership is an opportunity for the three countries to continue to explore opportunities for partnership and joint investment in vital areas of common strategic interest.

The partnership is a platform for cooperation in the future, and is based on the importance of integration, promoting openness, developing the industrial sector, exchanging economic benefits, and benefiting from human resources and expertise through the establishment of large joint industrial projects in more than one country, which provides new job opportunities and contributes to increasing GDP.

The combined capacity of the three countries to the GDP of the Middle East and North Africa is estimated at $756bn, the value of exports worth $419bn, meanwhile, imports value estimated at $380bn.


Clic here to read the story from its source.