UAE, Egypt sign joint strategic investment agreement

ABU DHABI, The United Arab Emirates and Egypt on Thursday signed a joint strategic investment agreement worth USD 20 billion through Abu Dhabi Development Holding and Egyptian Sovereign Fund.

The signing ceremony was attended by Crown Prince of Abu Dhabi Sheikh Mohammad bin Zayed and Egyptian President Abdelfattah Al-Sisi, said WAM news agency in a statement.

The partnership aims to establish joint strategic investment projects, specialized funds or investment tools to invest in several sectors, most notably manufacturing, traditional and renewable energy, technology, food, real estate, tourism, health care, logistics, financial services, infrastructure and others, the statement added.

The statement quoted UAE Minister of State Dr. Sultan Al-Jaber as saying that the agreement constitutes a new step to strengthen the distinguished relations between the two countries.

For her part, Chairman of the Egyptian sovereign fund Dr. Hala Al-Said said that the agreement constitutes a model for the strong relations between Egypt and the UAE.

Source: Kuwait News Agency