PM urges private sector to benefit from investment opportunities in light of growing ties with UAE

CAIRO - 25 July 2022: The private sector should make use of promising investment opportunities that are provided in light of the growing Egyptian-UAE relations, especially after the signing of the Integrated Industrial Partnership Initiative signed with the UAE and Jordan, said Prime Minister Mostafa Madbouli on Monday.

 

Madbouli was speaking during his meeting with UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company Sultan Al Jaber and his accompanying delegation in the presence of UAE Ambassador in Cairo Mariam Al Kaabi on the sidelines of holding the second meeting of the higher committee of the initiative.

 

Jaber pointed to large attention from brotherly countries to the initiative's details to join it.

 

Jaber said Abu Dhabi Holding Company allocated $10 billion to work on the initiative's project, noting it is keen to invest in a number of sectors here, especially in the gas field.

 

The UAE minister referred to the directives of UAE President Mohamed bin Zayed Al Nahyan to help Egypt to render the UN climate conference, COP27, successful.

 

Meanwhile, Petroleum Minister Tarek Al Molla, who attended the meeting, welcomed the UAE investments in the Egyptian oil sector, reviewing a number of investment opportunities in Egypt.