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What led the UAE to become Egypt’s largest Arab investor?

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Emirati politicians and economic analysts spoke about the most important aspects of cooperation between Egypt and the UAE, especially in the economic sphere, in which cooperation has reached the point where the UAE has become the largest Arab investor in Egypt.

Dirar Belhoul Al Falasi, Member of the Federal National Council of the UAE, said that the visit of UAE President Sheikh Mohammed bin Zayed Al Nahyan to Egypt at this time helps strengthen bilateral relations between the two countries and reflects the vital role they play in the region, especially in light of the security and political issues they face.

Al-Falasi added, “The visit also reflects the UAE’s commitment to cooperation and coordination with Egypt in all areas,” noting that among the areas in which the two countries can cooperate are trade, investment, energy, education, culture and others.

He continued: “The economic relationship between the UAE and Egypt is a vital component of their bilateral relationship as the UAE invests heavily in Egypt and Egypt represents an important market for Emirati products.”

He also pointed to the possibility of Egypt and the UAE coordinating on regional and international issues of mutual interest, especially regarding the fight against terrorism and extremism and maintaining security and stability in the region, as well as mutual support for each other in international organizations such as the Organization United Nations and the League of Arab States.

He noted the contribution of the Egyptian-Emirati relations in support of security and stability in the region, as well as their cooperation in addressing security and political challenges.

Nayel Al Jawabra, an Emirati-based economic analyst, said: “There is coordination between the two countries on international issues, in addition to strong relations between them in various fields, which leads to common positions, visions and points of view on international issues. , regional security and the situation in the Arab region as a whole, the latest of which are the recent transformations in Iran, Yemen and Syria and its return to the Arab League.

He stressed that the close relationship between the two countries greatly contributes to the stability of the Arab countries, especially in light of the political position of Egypt, and that the security and stability of the Arab region stems from the security of Egypt, which contributes to the unification of the Arab countries, which is reflected in many things, most the last of which was the last meeting in Cairo on Syria.

He stressed the need to take the unified relationship between the two countries as a model for relations between the Arab countries and unite the views between these countries, especially on issues such as food security, internal stability and the return of Syria to the Arab League. He concluded his speech by calling Egypt “the big brother of all Arab countries”.

Waddah Al-Taha, an Emirati-based economic analyst, revealed that Egyptian-Emirati relations date back to the creation of the United Arab Emirates in 1971, when the young country at the time received overt support from Egypt.

Al-Taha said: “Egypt supported the UAE at that time with an army of engineers, doctors, teachers and professors to help them strengthen their foundations and develop various government and economic affairs.”

Speaking about economic cooperation between the two countries, he said, “There is investment and cooperation in large development projects, and many cooperation agreements have been signed, I think there are more than 18 agreements, with an investment volume close to $1.9 billion, with an overall investment increase of more than 160%.” Almost for the past two years, and it is important to note here that this is happening as a result of the UAE’s belief that Egypt is an excellent base for investment in the region.

He highlighted the mutual benefit between the two countries in establishing important projects that compete internationally and in benefiting from the elements and workforce present in Egypt, noting that the volume of Emirati investment has made the UAE the largest Arab investor in Egypt with a cumulative investment of over 16 billion dollars.

He continued: “There are over 1,300 Emirati companies operating in various fields such as communications, finance, banking, construction, construction and real estate development, all of which are of key importance in the economic aspect and coincide with the coordination of political positions. at the regional and international levels.”

Source: Constitution.

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