UAE’s investment in Egypt hits $6.6bn

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The United Arab Emirate’s (UAE) Ambassador to Egypt, Mr Gomaa Mubarak al-Junaibi, has said said the emirate invested more than $6.6 billion in 2018.

He said the country invest $6.513 billion in Egypt in 2017, making Egypt the first place in terms of foreign direct investment (FDI).

Junaibi added that trade exchange between Egypt and the United Arab Emirates (UAE) recorded $3 billion during January to October 2018.

He noted that the number of Emirati Companies operating in Egypt reached 1,065 as at March 2019.

He spoke at the fourth meeting of the UAE investors at his residence in Cairo in the presence of a number of ministers and businessmen from the UAE and senior officials and leaders of UAE companies operating in Egypt in all vital fields.

“We hope that we have improved the bridges between the two brotherly countries and overcome the obstacles that some UAE companies have faced over the last three years in the hope that we will succeed together in overcoming any current or future obstacles,” he stated.

Junaibi expressed the important role played by the UAE companies operating in Egypt in pushing forward and consolidating bilateral relations at all levels.

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https://www.egypttoday.com/Article/3/70416/UAE-investments-in-Egypt-hit-6-66B-during-2018