UAE ranks first among Arab
UAE Ambassador in Cairo Gomaa Mubarak el Ganebi.
Cairo - MENA
The UAE ranks first among Arab and foreign countries investing in Egypt, according to data issued by the General Authority for Investment in Egypt, said the UAE Ambassador in Cairo Gomaa Mubarak el Ganebi.
The UAE investments in Egypt went up to 6.2 billion dollars compared by 6 billion dollars 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 out 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 dollars in 2016 against 2.597 billion dollars in 2015, he noted.
The number of the UAE companies operating in Egypt reached 877 companies compared to 819 companies in 2016, said the ambassador.
He also appreciated the important role played by the UAE companies operating in Egypt in promoting the distinguished ties between the two countries.
Source: MENA
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