The report explained that the size of this investment is much larger than expected, and the timing of this liquidity entry is very close if the financing goes as planned.
The government expects the project to attract investments of up to $150 billion during its development, helping to provide millions of job opportunities and inject liquidity into the Egyptian economy.
the project represents the largest direct investment deal in the country's history, noting that it will bring $150 billion in investments to Egypt over the project's lifetime.
The deal involves $150 billion in investments during the project development period, including around $35 billion in direct investments for the Egyptian state within two months.
Egypt’s Prime Minster Mostafa Madbouli meet on Monday with UAE President Sheikh Mohamed bin Zayed Al Nahyan as they discussed the strong fraternal ties, cooperation, and joint initiatives between their nations.
Egyptian business tycoon Hisham Talaat Mostafa attended the meeting with the PM, which was held at Qasr Al Shati Palace in Abu Dhabi.
MGN will expand its presence in Egypt and offer a wide range of services, including data analysis, business intelligence, credit management, and various financial and banking solutions
UAE Vice President and Prime Minister Mohammed bin Rashid Al Maktoum conveyed the appreciation of UAE President Mohammed bin Zayed Al Nahyan for President Abdel Fattah El Sisi.
Egypt's Minister of Finance, Mohamed Maait, emphasized the significance of the agreement against the backdrop of global challenges, stressing the need for coordinated Arab efforts to address the negative impacts on supply and import chains
The terror attack occurred in the General Gordon military base in Mogadishu on Saturday.
The bonds – which would be issued in Emirati dirhams, Indian rupees, and Hong Kong dollars – are within the government’s efforts to diversify its financial strategy by entering new markets and developing various financial tools
The primary objective of this agreement is to introduce new and improved services, enhance accessibility for cruise operators, and expand the range of itineraries available
The land lies on the Nile Corniche in Cairo.
Al-Hamed affirmed Mubadala's commitment to continuing its expansion in projects in Egypt in the near future.
The deposit was due to mature in June 2023, but the UAE extended it for three more years until June 2026.
The UAE pledged $100 million for the fund, as announced by Sheikh Abdullah bin Zayed Al-Nahyan, UAE minister of foreign affairs and international cooperation.
“We cannot achieve our common goals without having everyone on board, most importantly the Global South. We need to start delivering on climate justice and provide the needed tools as agreed in Sharm El-Sheikh to fund loss and damage. One of the most anticipated outcomes of COP28 is for the Loss and Damage Fund to be fully activated,” he added.
The United Arab Emirates (UAE) ranked first as the largest importer of gold, precious stones and jewelry from Egypt with imports worth $534M
Sources stated that there is a preliminary agreement in place, which will include the renewal of existing deposits provided by the two Gulf countries that are set to expire next year
One of the sources indicated that the deal could encompass the acquisition of 500,000 feddans potentially executed in phases through either a purchase or a long-term lease agreement.