Egyptian President receives Tahnoun bin Zayed and UAE delegation

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AL ALAMEIN NEW CITY, 10th August, 2021 (WAM) — Egyptian President Abdel Fattah El-Sisi received today, at the headquarters of the President’s office in Al Alamein New City, a UAE delegation, headed by H.H. Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser.
During the meeting, the sides discussed ways to strengthen bilateral relations between their countries and enhance joint investment activities in Egypt across various sectors.
Sheikh Tahnoun conveyed the greetings of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to President El-Sisi.
He also commended Egypt’s attractive investment climate, which is a product of the comprehensive development which the country is undergoing under El-Sisi’s leadership, providing unprecedeted opportunities to UAE and foreign investors.
The UAE’s direct investments in Egypt exceeded US$15 billion, accounting for over 13 percent of the country’s total foreign direct investment in 2020.
For his part, the Egyptian President welcomed Sheikh Tahnoun and his accompanying delegation and conveyed his greetings to the Abu Dhabi Crown Prince, lauding the strong ties that Egypt and the UAE share and their advanced cooperation at various levels.
Moreover, Mohamed Al Suwaidi, CEO of Abu Dhabi Development Holding Company (ADDH), said that the Egyptian market shows great promise, offering numerous projects that investors would find attractive.
In 2019, the Sovereign Fund of Egypt and ADDH launched a joint strategic investment platform, with a budget of US$20 billion, under which ADDH financed Egypt-based investment projects worth US$3 billion.

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