|22 January, 2020

$7.2bln worth of Emirati investments in Egypt: Jamal Al Jarwan

Emirati companies investing in Egypt, including Emaar, Etisalat, Majid Al Futtaim and DP World

Close up of United Arab Emirates Currency notes.

Close up of United Arab Emirates Currency notes.

Gettyimages

DUBAI - The UAE is currently the largest investor in Egypt with total investments exceeding AED26.5 billion (US$ 7.2 bn), according to Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council.

"Egypt is at the forefront of Arab countries attracting Emirati investments at the present time, thanks to the paradigm changes introduced into its investment environment and the incentive packages launched by the Egyptian government," Al Jarwan said while addressing the inaugural session of a conference addressing trade and investment prospects between the United Arab Emirates and Egypt which started earlier today in Dubai in the presence of Consul General of the Arab Republic of Egypt, Ashraf Deeb.

"Over the recent years, the Egyptian government has demonstrated great seriousness and efficiency in attracting FDIs," he added, explaining that the UAE International Investors Council places Egypt at the top of Arab destinations that attract Emirati investments, followed by the Kingdom of Morocco and the Kingdom of Saudi Arabia.

He pointed to the great successes achieved by Emirati companies investing in Egypt, including Emaar, Etisalat, Majid Al Futtaim and DP World, which in turn "contributed to motivating many other companies to go and invest in Egypt, the most recent of which was Dragon Oil."

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