UAE emerges as leading investor in Egypt

The Egyptian Commercial Representation Authority has confirmed that the United Arab Emirates (UAE) stands as the largest investor in Egypt on the international stage, according to data from the General Investment Authority up to April 2023, with investments totaling USD9.6 billion. Moreover, the UAE boasts a substantial presence in Egypt, with over 1,600 companies operating across various sectors within the country.

Yahya Al-Wathiq Billah, the head of the agency, highlighted the significance of economic relations in fostering strong ties between Egypt and the UAE. He noted that the UAE ranks as Egypt's second-largest trading partner within the Arab world, with bilateral trade volume reaching approximately USD4 billion. Furthermore, Egypt holds the position of the fifth-largest Arab trading partner of the UAE in non-oil trade, constituting 7 percent of the total trade volume. This robust economic relationship reflects the growing cooperation between the two nations across various domains, particularly in economic spheres.