A memorandum of understanding to promote investment between the United Arab Emirates and Egypt

The MoU aims to exchange information and expand the circle of investment coordination and cooperation to meet economic aspirations between Egypt and the UAE.

The MoU was signed in Cairo by Jamal bin Saif Al-Jarwan, Secretary General of the Emirates Council for Investors Abroad, and Gamal El-Sadat, Chairman of the Egyptian-Emirati Business Council, in the presence of each of the members of the Council of Egyptian-Emirati Affairs, Mohamed El-Atreby, Chairman of the Federation of Egyptian Banks, Chairman of the Board of Directors of Banque Misr, and Ahmed Hussein Sabour, Member of the Egyptian Senate, Chairman of the Board of Directors of Al- Ahly-Sabbour Real Estate Company, and Mohamed Mahlab, President of the Pioneers of Modern Engineering Company.

The Emirates News Agency said that according to the memorandum, the two sides will cooperate to develop and implement various initiatives with the aim of facilitating cooperation and exchanging visions and experiences, organizing meetings of direct business between companies and other initiatives to stimulate new investment. opportunities and supporting the business system in both countries, in addition to supporting existing investment projects and overcoming any challenges they face in order to maximize economic returns for all parties involved.

The Memorandum of Understanding also aims to prepare the formation of a comprehensive system of databases, consultations and statistical information on the Egyptian and Emirati markets, which will constitute a core on which to rely to conclude more partnerships between the business community and the private sector. companies on both sides, build their capacity and encourage bilateral and multilateral investment.

The MoU aims to support and strengthen partnerships and initiatives to contribute to the development of Emirati investments in Egypt, in addition to the development of Egyptian investments in the United Arab Emirates to achieve the common objectives of both parties which help to create markets and to mobilize private sector investment for mutual development in the United Arab Emirates and Egypt.

It is resolved that the two councils will organize joint initiatives, conferences and promotional tours with the United Arab Emirates in accordance with the MoU, and that each party will provide the other with sufficient information on their initiatives, conferences, electronic seminars and planned reports that serve both parties and exchange experiences in emerging markets and innovative ideas on how to help the private sector address the most pressing development challenges.

Read the Latest World News Today on The Eastern Herald.