Arab News, Tuesday, May 23, 2023 | Thul-Qidah 3, 1444
UAE, Egypt bid to boost investment partnerships
Emirates:
The UAE International Investors Council has signed a memorandum of understanding
with the Egyptian-Emirati Business Council to enhance existing investment
partnerships, the Emirates News Agency reported on Monday.
The memorandum aims to increase investment
opportunities in the new economy, green projects, recycling, clean projects, the
technology sector, and new digital technologies.
The two sides plan to launch various initiatives
to facilitate direct business meetings between companies with the aim of
stimulating new investment opportunities in the UAE and Egypt.
The agreement also aims to lay the groundwork for
the establishment of a comprehensive system of databases, consultations, and
statistical data on the two markets.
UAEIIC Secretary-General Jamal bin Saif Al Jarwan
said: “We are honored to cooperate with the Egyptian Business Council headed by
Gamal Sadat, in an important step that will open new doors to enhance
cooperation. This memorandum serves the interests of members’ aspirations and
common visions.
“It will see greater activity in cooperation
between the two councils, including joint initiatives, conferences and
promotional tours.”
Gamal Sadat, who is EEBC chairman, said that the
Egyptian market was currently offering golden opportunities for investors.
He added that the memorandum established a
framework for long-term cooperation to benefit the two countries’ economic
relations, especially since the council played a key role in enhancing the
leadership of UAE investments and contributing to the exploration of
high-potential investment areas.
The two councils will organize joint initiatives,
conferences and roadshows, as well as sharing experiences in emerging markets
and helping to assist the private sector in addressing the most pressing
concerns.