Abu Dhabi’s sovereign wealth fund ADQ is considering new investments in Egypt in the coming period, according to CEO and Managing Director Mohamed El Suwaidi.
On the sidelines of his meeting on Sunday with Egyptian Prime Minister Mostafa Madbouly, Planning Minister Hala El-Said, and CEO of Egypt’s sovereign wealth fund Ayman Soliman, El Suwaidi said that the company’s investments in Egypt amounted to about $4.3 billion in 9 years since 2014, which reflects the volume of interest in the Egyptian market.
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The UAE is a major supporter of Egypt, providing critical economic help in the form of investment or other aid.
During the meeting, a number of investment opportunities in several sectors were discussed and reviewed, with Al Suwaidi expressing the great interest of Emirati investors in the Egyptian companies offered, which represent golden opportunities for investment, according to a statement by the Egyptian Cabinet Council.
For his part, the Prime Minister stressed during the meeting the continuation of Egyptian efforts in implementing and taking many steps and measures that would create an attractive climate for local and foreign investments in various sectors, in order to maximize promising investment assets and opportunities.
The Prime Minister also referred to a number of measures taken by the state within the framework of efforts to improve the investment climate, to encourage and attract investors to put in new investments or expand existing ones, explaining that among those measures is obtaining the golden license for projects targeted by the state in a number of important sectors.
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