The higher committee of the integrated industrial partnership between Egypt, UAE, Jordan, and Bahrain has approved 87 projects proposed by the executive committee including 12 projects with primary investments of $3.4 billion, according to an official statement on July 25th.
The projects are qualified to undergo feasibility studies and will be in the fields of agriculture, food production, fertilizers, and pharmaceuticals.
The next phase of projects will be focused on the areas of metallurgical industry, chemicals, plastics, textiles, and clothes.
For his part, UAE’s Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber said that his country is reiterating its serious commitment to the integrated industrial partnership through the investment fund that will be managed by ADQ Holding with a value of $10 billion to invest in projects resulted from the partnership.
It is worth noting that the contribution of the industrial sector to the gross domestic product (GDP) of the UAE, Egypt, and Jordan accounts for 30% of the contribution of the industrial sectors in the Middle East and North Africa (MENA).
Bahrain's joining to the tripartite partnership is expected to increase the GDP of the four countries to $809 billion and add $1.7 billion in investments to the food and agriculture sector.
Bahrain’s presence in the partnership will also add investments worth $4 billion, $1.7 billion, and $500 million in the sectors of metal products, chemical, and plastic substances, and medical products, respectively, along with $2.36 billion worth of raw aluminum exports that are anticipated.
Bahrain will also increase the contribution of the partnership’s share in the value-added industry in the Middle East to $112.56 billion from $106.26 billion.
The GCC country will also add $2.3 billion worth of iron raw material to the industrial sector in the four countries.
It is worth noting that Egypt is hosting the higher committee meetings of the integrated industrial partnership from July 23rd to 25th.
On May 29th, the integrated industrial partnership initiative for sustainable economic development between Egypt, UAE, and Jordan was launched in Abu Dhabi.
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