UAE and Egypt launch $ 20 billion joint investment platform
English - Thursday 14 November 2019 الساعة 04:09 pm
Aden – NewsYemen.net
Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed has announced the establishment of a joint investment platform between the UAE and Egypt worth $ 20 billion.
Sheikh Mohammed bin Zayed, in a tweet on his Twitter account, said: "I have launched with President El Sisi a joint strategic investment platform between the UAE and Egypt worth $ 20 billion to implement vital projects in areas of great economic and social feasibility for our countries and our people."
This came on the sidelines of a visit by Egyptian President Abdel Fattah El Sisi to the UAE began on Wednesday.
On Thursday, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed held talks with the Egyptian President at the Al Watan Palace in Abu Dhabi.
The two sides discussed bilateral relations, as well as consultation and coordination on various Arab issues and regional and international crises of common concern.
According to a statement issued by the Egyptian presidency, the platform will invest in a range of sectors and assets through Abu Dhabi Development Holding Company and Egypt's sovereign fund.
"The spokesman of the Egyptian presidency, Ambassador Bassam Radi, said "This partnership aims to establish joint strategic investment projects, specialized funds or financial and investment instruments, to invest in the sectors of logistics, financial services, infrastructure, manufacturing, traditional and renewable energy, technology, food and real estate, tourism and healthcare.
