Fri. Jun 14th, 2024
UAE Emerges as Top Investor in Egypt with $9.6 Billion

The UAE has emerged as the largest investor in Egypt on an international level, according to data from the General Investment Authority until April 2023. With over $9.6 billion invested in Egypt, the UAE has established over 1,600 companies operating in various sectors.

Egypt is the fifth largest Arab trading partner of the UAE in non-oil trade, accounting for 7% of the total. Bilateral trade between Egypt and the UAE reached around $4 billion in 2023, with Egyptian exports amounting to approximately $2.2 billion and imports reaching about $1.8 billion. The main exports include natural pearls, machinery, ready-made clothes, fruits, and vegetables, while imports consist of fuel, plastics, copper, and fish.

In May 2022, an integrated industrial partnership for sustainable economic development was announced between Egypt and several other countries including Jordan and Bahrain. This partnership aims to develop five promising industrial fields with an investment fund of $10 billion dedicated to emerging projects. Several agreements and partnerships were signed during the third meeting of the Supreme Committee for Integrated Industrial Partnership for Sustainable Economic Development in February 2023.

Recent times have seen significant contributions from UAE capital to international investments directed towards the Egyptian market. Several important investment deals and acquisitions have been made in various sectors including industry, real estate, service logistics and energy sectors. The growing relationship between Egypt and the UAE has led to increased cooperation in various fields particularly in economics sector.

The head of the Egyptian Commercial Representation Authority Yahya Al-Wathiq Billah highlighted that economic relations are a key aspect of Egyptian-Emirati relations.

The bilateral trade between Egypt and the UAE reached around $4 billion in 2023 with Egyptian exports amounting to approximately $2.2 billion while imports reached about $1.8 billion.

In recent years there has been a growing relationship between Egypt and Emirates leading to increased cooperation especially in economic sector which is evident from significant investments made by Emirates capital into international investments directed towards Egyptian market.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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