The secretary-general of the UAE International Investors Council, Jamal Saif Al Jarwan, pointed to the success of Emirati companies in Egypt – including Emaar, Majid Al Futtaim, DP World, and Etisalat – while addressing the inaugural session of a conference on trade and investment prospects.
Al Jarwan stated that these firms motivated “many other companies to go and invest in Egypt,” according to state news agency, Wam.
The UAE is currently the largest investor in Egypt with total investments exceeding $7.2bn (AED26.5bn).
Al Jarwan added that changes in Egypt’s investment environment and the incentive packages offered by the Egyptian government have spurred UAE investor interest.
Speaking on behalf of the UAE International Investors Council, he said that the council considers Egypt as the leading Arab destination that attracts Emirati investments, followed by the Kingdom of Morocco, and the Kingdom of Saudi Arabia.
Construction Week Online
23/01/2020
