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United Arab Emirates Economy Minister Abdullah bin Touk revealed a $20 billion deal that will link Egypt’s sovereign fund and Abu Dhabi’s ADQ in various areas over the next 10 years, especially food security and food security. Unite in areas related to sustainable development.
He added that in addition to the acquisition opportunities being studied, Dubai’s Ports World Ports project has injected investments worth US$30 billion into Ain Sokhna Port.
In a speech on Wednesday to celebrate the 50th anniversary of Egypt-UAE relations, he added that the company is studying investment opportunities to develop Egyptian ports.
Egypt has made leaps in legislative amendments to improve Egypt’s investment climate, making it more attractive to investors.
He added that for the UAE, Egypt is a fast-track gateway to Africa, coinciding with the way in which free trade agreements were concluded.
The UAE Minister of Economy said the relationship between Egypt and the UAE is historic, with UAE investments in Egypt estimated at $27 billion and investors seeing Egypt as a gateway to Africa. There are 1,300 Emirati companies in Egypt, located in industry, agriculture and construction.
He said there were meetings between Egypt and the UAE, keen to create investment climate, business transactions, economic laws, job creation and promotion of various sectors, noting that 700,000 young Egyptians work in the UAE.
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