UAE
According to the release, the Ras El Hekma megaproject is expected to contribute approximately $25 billion annually to Egypt's GDP and create around 750,000 jobs, with projected cumulative investments reaching $110 billion by 2045
According to a report aired on Monday, the cumulative investment in this major project is expected to reach $110 billion by 2045.
The Prime Minister emphasized the meeting's goal of addressing challenges and ensuring effective coordination among stakeholders. He reiterated efforts to promptly transfer land to the Emirati partner to initiate infrastructure work, which aims to enhance investment, particularly in the tourism sector.
The meeting was attended by UAE's State Minister for African Affairs Sheikh and Special Envoy to the EU.
Ambassador Abu Zeid mentioned that the meeting included discussions on regional developments and strategies to de-escalate tensions, including issues related to Gaza, Sudan, the Red Sea security, Libya, and Somalia. Both sides agreed to continue consultations on these matters.
That was during his visit to Abu Dhabi.
In a statement released by the Ministry, the Spokesman of the Foreign Ministry Ahmed Abu Zeid added that Minister Abdelatty will also discuss with senior UAE officials the regional and international challenges that endanger the stability of the Middle East.
These combined efforts are geared towards meeting the growing demand for electricity and facilitating the operation of additional capacities by the upcoming summer.
The focus is on optimizing resources within the petroleum sector to boost the trading of these vital commodities.
Minister of Foreign Affairs, Immigration and Egyptian Expats Badr Abdelatty made a phone call Wednesday to his Emirati counterpart Sheikh Abdullah Bin Zayed.
The two leaders met in a fraternal atmosphere, underscoring the robust and profound historical relations between the two countries and their peoples, said the Egyptian Presidency in a statement on Thursday.
Egyptian Minister of Housing, Utilities and Urban Communities Engineer Sherif El-Sherbiny received Ambassador of the United Arab Emirates to Cairo Mariam Khalifa Al Kaabi, Ambassador at his office at the ministry's headquarters in the New Administrative Capital, so the latter congratulates him on assuming the housing portfolio, and to discuss ways to enhance joint cooperation between the two countries.
Egyptian exports to the UAE also saw growth, with exports totaling $380.1 million in the first quarter of 2024, up from $379 million in the same period of 2023, showing an increase of 0.3 percent.
Fertiglobe has secured a contract valued at €397 million to supply green ammonia to the European Union. The contract spans until 2033 and sets the rate at €1,000 per ton.
The delegation members voiced their keenness to boost cooperation ties with Egypt and have further investments in different promising fields.
These meetings aim to contribute to increasing incoming tourist traffic to Egypt.
The Prime Minister emphasized a strong conviction that Egypt's energy future hinges on new and renewable sources. He underscored the importance of exploring avenues to integrate substantial amounts of such energy into the electrical grid and coordinating efforts to localize industries linked to renewable energy technologies, including solar panels and wind energy.
The two sides also addressed the ways of enhancing cooperation between Al Azhar Institute, one of the top Islamic Sunni institutes in Egypt and the Arab world, the United States of Emirates and the Muslim Council of Elders, the statement added.
The transaction value is estimated at around $449.1 million, with Electra paying $1.05 per share.
Egypt repaid a substantial portion of its domestic and external public debt, amounting to $25 billion since March 2024
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