Page 468 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/17/24, 4:27 PM UAE And Egypt Explore Development Of Economic Partnership In New Economy, Transportation, Entrepreneurship, Circular Econ…
signed partnership agreement between the two countries for the Ras Al Hikma development
project is a key milestone in the growth of economic ties and fostering mutual investment

flows, particularly considering that it is the largest FDI in Egypt's history.

H.E. Bin Touq's meeting with H.E. Eng. Kamel Al Wazir explored the strengthening of
collaboration in various projects concerning infrastructure, logistics centres, and industrial

sectors in both nations. The two ministers exchanged insights and knowledge on effective
policies and strategies to facilitate the transition towards circular and green economies in

order to leverage the two countries' collective capabilities and resources to achieve these
transitions.

The meeting also discussed fostering bilateral cooperation in cutting-edge technology and

innovation applied in the development of airport infrastructure, apart from initiatives and
strategies for fostering the growth of industrial clusters, which serve as catalysts for economic

growth and sustainable development.

H.E. Bin Touq's meeting with H.E. Dr. Rania Al Mashat examined ways to strengthen
economic relations in areas of shared interest. It explored potential financing options to

facilitate the development of new joint projects, taking the development visions of both
countries into consideration.

The two sides deliberated on sharing expertise in international collaboration and development

funding to foster joint initiatives that create new opportunities for growth and strengthen
communication channels between the UAE and Egypt's business communities. The UAE is

the top Arab investor in Egypt, and the third largest globally.

H.E. Bin Touq elaborated on the fundamental pillars of the 'We the UAE 2031' vision, which
aims to position the country as a global hub for the new economy by the next decade. It aligns

with the forward-thinking vision of the country's wise leadership and is supported by an array
of policies and legislative amendments adopted by the UAE government. These include the

development of a robust economic legislative framework, the launch of pioneering initiatives
and programs to attract FDI, as well as the establishment of a comprehensive legislative
system to protect intellectual property. Furthermore, an ambitious strategy has been

implemented to attract talent across key sectors, thereby bolstering the country's standing as
a prominent hub for creativity and innovation.

H.E. Bin Touq invited the two Egyptian ministers to attend the fourth edition of Investopia,
scheduled to take place in February 2025. The event will serve as a key platform to explore
promising opportunities that the UAE offers to global investors.

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