His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Egyptian President Abdel Fattah El Sisi yesterday witnessed the launch of a joint strategic investment platform between the UAE and Egypt valued at $ 20 billion. Egypt Sovereign.
The partnership aims to establish joint strategic investment projects, specialized funds, or investment instruments to invest in several sectors, most notably manufacturing, traditional and renewable energy, technology and food, in addition to real estate, tourism, health care, logistics, financial services, infrastructure and others.
The partnership agreement was signed by the UAE's Minister of State, Dr. Sultan bin Ahmed Al-Jaber, and Egypt's Minister of Planning, Follow-up and Administrative Reform, and Hala Helmy Al-Saeed, Chairman of the Egyptian Sovereign Fund.
The signing ceremony was attended by HH Sheikh Tahnoon bin Zayed Al Nahyan, National Security Advisor, HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, HH Sheikh Hamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council, and HH Sheikh Abdullah bin Zayed His Highness Sheikh Dr. Sultan bin Khalifa Al Nahyan, Advisor to His Highness the President of the UAE, His Highness Sheikh Khalid Bin Mohammed Bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, and Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Tolerance, and Sheikh Zayed bin Hamdan bin Zayed For Nahayan, Sheikh Khalifa bin Tahnoon bin Mohammed Al Nahyan, Executive Director of the Office of the families of martyrs in the Diwan of the Crown Prince of Abu Dhabi, Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Chairman of Abu Dhabi Airports Company, along with a number of sheikhs, ministers and officials.
Innovative vision
Minister of State, Dr. Sultan bin Ahmed Al-Jaber, said that the initiative aims at presenting a new innovative vision for the concept of concerted efforts through the implementation of feasible joint strategic investments that achieve a win-win economic return with a focus on economic development projects in various sectors. He pointed out that «the agreement paves the way to start the actual work in projects, which contribute to promote progress in the field of economic and social development».
Established relationships
Minister of Planning, Follow-up and Administrative Reform, Dr. Hala Helmy Al-Saeed, Chairman of the Egyptian Sovereign Fund, said, “The agreement is a model for the strong and strong relations between Egypt and the UAE since the late Sheikh Zayed bin Sultan Al Nahyan. It is based on principles and foundations that focus on development and service to the human being and achieving the goals of the 2030 development strategy. ”