It intends to increase its investments to 129 billion dirhams within 5 years

Jamal Al-Jarwan: The UAE is the largest investor in Egypt, Arab and international.. (Video)

picture

The Secretary-General of the Emirates Council for Overseas Investors, Gamal Al-Jarwan, said that "the relations between Egypt and the UAE have had a special feature throughout history since the founding leaders," adding that the UAE is the largest investor in Egypt, at the Arab and global levels, after years of hard work. And harmony between the leaderships of the two sisterly countries.

He added, in an interview with "Emirates Today", on the occasion of the celebration of the 50th anniversary of relations between the UAE and the Arab Republic of Egypt, that "there is a positive view by the UAE at the level of government and private companies, to the investment climate in Egypt, and this in turn is reflected in the size of Emirati investments, which exceeded $20 billion (equivalent to 73.4 billion dirhams), pointing out that “there is an intention to increase the value of Emirati investments in Egypt, during the next five years, by an additional $15 billion (equivalent to more than 55 billion dirhams),” With an increase of 75%, bringing the total to 35 billion dollars (129 billion dirhams), in light of the consensus between the two countries.”

He continued, "The UAE sees Egypt as the largest market in the Middle East, and a fertile ground for establishing quality investment projects in various sectors."

He explained that the relations between the Emirates and Egypt are historical, and have deep roots since the first day of the establishment of the Federation of the Emirates, where they enjoy the sublime patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, to complement the march laid by the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, believing in Egypt's stature and its pivotal role in the region.

He stated that there are more than 1,300 Emirati companies working in Egypt in projects and investments, including various sectors of oil and gas, aviation, wholesale and retail, transportation, warehousing and logistics, the financial sector, insurance activities, information and communication technology, real estate and construction, tourism, agriculture and food security.

Al-Jarwan clarified that three major and major investments laid the foundation stone for Emirati investments in Egypt, namely “I & - Etisalat previously”, which launched its business in 2007, after winning the third license in 2006, in addition to the investments of the “Majid Al Futtaim” group in various sectors, These include shopping and retail centers, hotels and residential complexes, as well as the investments of Emaar Properties, which followed the same approach, and established the modern thinking of advanced real estate cities, and succeeded in creating a boom in the real estate sector in Egypt.

He pointed out that the ADQ Holding Company is one of the giant Emirati companies that has recently succeeded in promoting its projects in Egypt and pumping new investments within the framework of its commitment to invest in the development of the Egyptian economy in the long term, through its joint strategic investment platform with the Sovereign Fund of Egypt, with a value of up to To $20 billion, through which many investment opportunities were implemented, in pursuit of strong commercial benefits and sustainable growth.

Al-Jarwan revealed that “the return on investment in Egypt varies from one sector to another, but it can be said that the return on investment in the Egyptian market should not be less than two figures, and not less than 15% at the present time, unlike many countries in the region that record The return on investment is an odd number.

He added that the Emirates Investors Council closely and periodically monitors the performance of the Egyptian economy, in light of the improvement in the investment climate that achieves steady growth and ensures an attractive return for foreign investors, especially the Emirati.

Al-Jarwan continued, "All economies around the world have been affected by the conditions (Corona), the Ukrainian war, and drought in some areas during the past two years, but at the level of the Emirati and Egyptian economies, we find a strong interest from the leadership of the two countries, in the investment climate and improving its tools.

As for Egypt, there have been major amendments of interest to the Emirati investor, including what the Investment Authority has done in giving the investor the golden license, providing the number of opportunities available at the level of the Republic, which exceeds 3000 investment opportunities, in addition to creating a single window to complete all procedures in one place, and many more. of the facilities and amendments to the policies that are currently being implemented.

He pointed out that “Egypt’s improvement in the investment climate qualifies it strongly to become at the forefront of the region’s countries in attracting foreign investments, so I advise small and medium-sized companies in the UAE to study the Egyptian market well, because of its strong opportunities, as it is an emerging market, In addition, the international financial institutions are ready to provide financial support and financing for projects established in Egypt.

He stressed that the Emirati small and medium-sized companies, which have recently entered the Egyptian market, are achieving good results, developing and expanding their businesses, which indicates the presence of demand and a desire to benefit from the strong relationship between the two countries.

He pointed out that "the UAE always renews the pledge in every forum and occasion that its investments are present in more than 60 countries around the world, as well as all Arab countries, especially the Arab Republic of Egypt," noting that "the celebration is a message that we in the UAE stand by the Egyptian leadership." And the people of Egypt, politically and economically, and at all levels.”

To watch the video,

Jamal Al Jarwan:

• “The relations between the Emirates and Egypt are historical, and have deep roots since the first day of the establishment of the Federation of the Emirates.”

• “Egypt is the largest market in the Middle East, and a fertile ground for establishing quality investment projects in various sectors.”

• "1300 Emirati companies working in Egypt in projects and investments including oil, aviation, retail, and transportation."

The Egyptians hoped that Etisalat would win the "mobile" license in 2006

The Secretary-General of the Emirates Council for Investors Abroad, Jamal Al-Jarwan, said that he “remembers well the entry of the Etisalat Group alliance to compete for the third mobile phone license in the Egyptian market in 2006, which is the first and largest example that translated the strength of the relationship between the UAE and Egypt, and then UAE investments gradually rolled until It is where it is now.”

He added: “I was the head of the team that was assigned by the Board of Directors of Etisalat Group in 2006 to complete the Etisalat Egypt deal, and what I touched and saw is a testimony to history of what we have seen and felt of pride, although Egypt managed the file of granting the third mobile phone license in all transparency, as it is a competition International, but the Egyptian street was hoping for the victory of the Emirati Etisalat Group, and everyone was wishing us good luck,” saying that “there is a strong relationship between the two peoples, and everyone feels it on both sides, whether the Egyptians love the Emirates, or the Egyptians love for everything that is Emirati, and we hope that it will continue Investments and cooperation between the two sides.

Follow our latest local and sports news and the latest political and economic developments via Google news