To strengthen current investment partnerships, the UAE International Investors Council and the Egyptian-Emirati Business Council have signed a memorandum of understanding, according to sources.
Increased investment prospects are the goal of the memorandum for the new economy, green initiatives, recycling, clean projects, the technology industry, and emerging digital technologies.
To encourage new investment prospects in the UAE and Egypt, the two sides intend to start a number of initiatives that will make it easier for businesses to interact face-to-face.
A complete system of databases, consultations, and statistical data on the two markets is also intended to be established as a result of the agreement.
UAEIIC Secretary-General Jamal bin Saif Al Jarwan said: “We are honored to cooperate with the Egyptian Business Council headed by Gamal Sadat, in an important step that will open new doors to enhance cooperation. This memorandum serves the interests of members’ aspirations and common visions.
“It will see greater activity in cooperation between the two councils, including joint initiatives, conferences and promotional tours.”
The chairman of the EEBC, Gamal Sadat, declared that there are currently excellent investment prospects in the Egyptian market.
In particular, the council played a crucial role in increasing the leadership of UAE investments and contributing to the investigation of high-potential investment areas, he said, adding that the treaty set a framework for long-term cooperation to benefit the two nations' economic relations.
The two councils will coordinate cooperative projects, seminars, and roadshows in addition to exchanging knowledge on developing markets and assisting the private sector in resolving the most urgent issues.