Mansour bin Zayed witnessed its announcement

An integrated industrial partnership between the UAE, Egypt and Jordan

H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, witnessed in Abu Dhabi yesterday the announcement of an integrated industrial partnership between the UAE, Egypt and Jordan, in order to achieve sustainable economic development in five promising industrial fields, including: agriculture, food, fertilizers, pharmaceuticals, Textiles, metals, and petrochemicals.

Investment Fund

In this context, an investment fund managed by the Holding Company (ADQ) has been allocated with a value of 10 billion dollars to invest in the projects emanating from this partnership in the agreed sectors.

The partnership was signed in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Jordanian Prime Minister Dr. Bishr Al-Khasawneh, and Egyptian Prime Minister Dr. Mustafa Madbouly, as was signed by the Jordanian Minister of Industry and Trade, Youssef Al-Shamali, and the Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al-Jaber, and the Egyptian Minister of Trade and Industry, Dr. Nevin Gamea.

Industrial integration

His Highness Sheikh Mansour bin Zayed Al Nahyan stressed that this partnership embodies the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, to promote industrial integration with Arab countries and the rest of the world, to achieve a qualitative leap in the industrial sector, to be a major lever for the economy.

His Highness added: "Industry is the backbone of major economies, and we are confident that the UAE, with its capabilities and effective policies, the will to develop, advanced technology and advanced logistical infrastructure, is able to build a solid economic base by taking advantage of industrial integration among the countries of the region."

His Highness continued: "The development of the industrial sector in the participating countries will lead to enabling industrial development in the three countries, diversifying the economy, and increasing the industry's contribution to the domestic product. This partnership also reflects the ability of the countries in the region to strengthen their relations and launch new projects and industries within the framework of an integrated industrial system that provides promising opportunities for future generations.”

Historic relations

For his part, Jordanian Prime Minister Dr. Bishr Al-Khasawneh said, in his speech during the signing ceremony, that the signing of the partnership between the three countries expresses a strategic partnership and historical relations between the three countries, pointing out that this partnership establishes great industrial opportunities between these countries, in a way that enhances Integration, protect supply chains, lead to substitution, and promote sustainable economic development, which is reflected in economic growth figures, job creation, and other prospects.

Al-Khasawneh thanked the UAE and its leadership for their efforts to strengthen relations and economic cooperation in the region, which confirms the depth of relations and excellence in these relations.

He said: "The continuous meetings at the leadership level, the continuous coordination, and the tendency to develop these relations, at all levels, including the political and economic ones, confirm the strength of these relations, and the partnership that was announced came with the presence of a supreme political will, and it will grant the industrial sector In these countries there is more flexibility and opportunities, and I would like to refer here to the industrial sector in Jordan, which is attractive to investments, and contributes to 24% of the GDP, and employs 21% of employment, while Jordan’s export industries reach many countries in the world, in Laws and legislations support the industry.

Added value

In turn, the Egyptian Prime Minister, Dr. Mostafa Madbouly, thanked the leaders of the three countries for cooperating in this integrated industrial partnership for sustainable economic development, stressing that the support of the political leadership in the three countries contributed to the effectiveness of consultations and discussions between stakeholders and specialists, and resulted in the signing of These agreements are important for our countries and their peoples.

He said, "The crisis of the Corona pandemic, and the subsequent Russian-Ukrainian crisis, revealed beyond any doubt the necessity of integration between our Arab countries, which contributes to achieving the interests of our peoples, in Egypt, the Emirates and Jordan, which could become a strong nucleus for cooperation." more comprehensive among our Arab countries.

Madbouly stressed that the current regional and international conditions make it imperative for Arab countries to maximize opportunities for cooperation and integration between them, as each country possesses a competitive advantage and has its capabilities, which leads to maximizing these advantages and capabilities through joint integration between these countries.

He added: "The projects that have been agreed upon, will establish an added value for the three countries, and will have a positive impact on national security, deepening the local industry and supply chain activities. There will also be continuous follow-up to the implementation stages of these projects, facilitating procedures, and overcoming obstacles. The speed of reaping the fruits of these projects and the benefit of our peoples from them, especially that the first phase of them brings many benefits, in terms of food security and drug security, and these projects also have great benefits in attracting foreign investment and providing job opportunities for our youth.”

Open

Invitation

Sectors, the ministry focuses on continuing to build partnerships, enhancing cooperation in the industrial sector, and exerting maximum efforts to develop and empower it, to enhance its contribution to the GDP and diversify the economy.

He added, "We extend an open invitation to our brothers and partners to support this partnership by encouraging private sector participation, stimulating advanced technology applications, providing smart financing solutions, and opening markets to encourage the growth of the industrial sector in these countries and others."

He continued: "In line with the high directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, and with the aim of accelerating the achievement of the goals of this partnership between us, an investment fund has been allocated to be managed by (ADQ Holding), with an initial value of 10 billion dollars to invest in pop-up projects. About this partnership in the five agreed sectors.. We are confident that joint initiatives and projects will contribute to strengthening brotherly relations and cooperation with brothers in Jordan and Egypt, as well as in line with the objectives of the (Fifty Principles) announced by the UAE towards building a better future through developing partnerships Distinguished economic status as one of the most important priorities of the leadership and government of the UAE.”

Good for all

. Al-Jaber stressed that this integrated industrial partnership will contribute to diversifying the economy and promoting its growth in the three countries by increasing the added value of industrial products, especially in priority areas, such as petrochemicals, pharmaceuticals, agriculture and food, and others.

He added, "Through the integration of expertise and resources, we will be able to add industrial value, reduce production costs, provide more job opportunities, and achieve good for all."

He continued: "This partnership reflects our keenness on all of us to build constructive development partnerships that enhance our national economies, contribute to promoting sustainable economic development, support the exchange of experiences, deepen integration between the unique advantages of each of the participating countries, promote progress towards self-sufficiency, and enhance food and health security, Integration of value chains, and the development of more joint industrial projects.

Abu Dhabi - WAM

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