01 October 2020 12:27 AM

UAE Ambassdor: UAE investments in Egypt ranked first

Tuesday، 13 June 2017 - 01:56 PM

The UAE is ranked first among Arab and foreign countries with regard to investing in Egypt, according to data issued by the General Authority for Investment and Free Zones (GAFI) in Egypt, said UAE Ambassador in Cairo Gomaa Mubarak el Ganebi. 

 

The UAE investments in Egypt went up to $6.2 billion, against $6 billion in 2016, added the ambassador.

 

During his meeting with senior officials in the UAE companies operating in Egypt, Ganebi hailed the issuance of the new Egyptian investment law.

 

He further hailed efforts exerted by the government to improve the investment climate in Egypt.

 

He also pointed to the progress of economic ties between Egypt and the UAE over the past years.

 

The volume of trade exchange between Egypt and the UAE reached about $3.456 billion in 2016, against $2.597 billion in 2015, he noted.

 

The number of the UAE companies operating in Egypt reached 877 companies, against 819 companies in 2016, said the ambassador.

 

He also appreciated the important role played by the UAE companies operating in Egypt in promoting distinguished ties binding the two countries. 

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