Mansour bin Zayed witnessed its announcement in the presence of the prime ministers of Egypt and Jordan
An investment fund of $10 billion to invest in “integrated industrial partnership” projects.
Mansour bin Zayed, Al-Khasawneh and Madbouly attended the signing of the partnership.
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The partnership was signed in the presence of Mansour bin Zayed, Prime Minister of Jordan Bishr Al-Khasawneh (right) and Egyptian Prime Minister Mustafa Madbouly.
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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 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, Egyptian Prime Minister Dr. Mustafa Madbouly, while the Jordanian Minister of Industry and Trade, Youssef Al-Shamali, and 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 main 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.”
Historical 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 reflects 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. It protects supply chains, leads to replacement, and promotes 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 point out 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, under the laws of Industry supportive legislation.
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. The mission is for our countries and their people.
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 UAE and Jordan, which could become a strong nucleus for more comprehensive cooperation. between 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
In his speech on the occasion of signing the partnership, the Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber, said: “In line with the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, to extend and strengthen bridges of cooperation with our partners to benefit from opportunities for integration and achieve sustainable development in various 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 directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, and with the aim of accelerating the achievement of the objectives of this partnership between us, an investment fund has been allocated to be managed by (ADQ Holding), with an initial value of $10 billion to invest in the projects emanating from 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, and are in line with the objectives of the (50 Principles) announced by the UAE towards building a better future through the development of distinguished economic partnerships as one of the most important The priorities of the leadership and government of the UAE.”
good for everyone
Al Jaber stressed that this integrated industrial partnership will contribute to diversifying the economy and enhancing 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.
• The partnership focuses on industrial areas with added value, including: agriculture, food, fertilizers, pharmaceuticals, textiles, metals, and petrochemicals.
Mansour bin Zayed:
• "We are confident that the UAE is able to build a solid economic base by benefiting from industrial integration among the countries of the region."
• «Developing the industrial sector in the participating countries will enable industrial development in the three countries and diversify the economy».
Bishr Al-Khasawneh:
• “The partnership came with the presence of a supreme political will, and it will give the industrial sector in these countries more flexibility and opportunities.”
Mostafa Madbouly:
• "The projects that have been agreed upon, will establish an added value and will have a positive impact on national security."
Sultan bin Ahmed Al Jaber:
• «Adding industrial value, reducing production costs, providing more job opportunities, and achieving good for all».
26% of the population of the area
The three countries possess a set of resources and unique competitive advantages that include the availability of raw materials and raw materials, such as energy resources in the UAE, fertile agricultural land in Egypt, and minerals in both Egypt and Jordan.
These countries also have strong capabilities in the field of pharmaceutical industries, and the possibility of their development and expansion, increasing their production capacity, and important manufacturing capabilities in the fields of iron, aluminum, petrochemicals, and derivatives.
The three countries constitute 26% of the population in the Middle East and North Africa region, with a population of more than 122 million people, 49% of whom are in the youth stage, which means that there is a large market and a young workforce.
These countries are also characterized by the presence of a developed logistical infrastructure that includes airports, ports and strategic transport corridors, such as the Suez Canal, in addition to the availability of smart financing solutions, and national companies with distinguished capabilities in the main focus areas of the partnership.
There are opportunities to increase the production of wheat and corn in the three countries from 16.5 million tons to about 30 million tons annually, and to increase the production of fertilizers and feed to keep pace with the growth in the dairy, meat, poultry and food processing sectors.
“Holding”: Injecting more investments
The Managing Director and CEO of ADQ Holding, Muhammad Hassan Al-Suwaidi, said that the fund’s allocation confirms ADQ’s commitment to industrial investment directly or through its portfolio of companies, to enhance and enable the integration process, in order to achieve sustainable economic development, benefiting countries Participation and its people, and in line with our firm keenness to consolidate the position of the UAE and the Emirate of Abu Dhabi as a global destination for investors and partners in various vital sectors, particularly the industrial sector.
Al-Suwaidi continued: “ADQ Holding has a desire to pump more investments and infrastructure, specifically in the industrial fields that were agreed upon within the agreement, which are vital and important areas in terms of integration, leading to empowering the industrial sector and increasing its participation in the GDP. These countries have a significant impact on the development and diversification of the economy of these countries, and provide opportunities for their people, during the next few years.”
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