On Sunday, the UAE announced that the Abu Dhabi government-owned holding company will allocate $10 billion to invest in projects with Egypt and Jordan.
According to what was reported Agency Emirati news, Deputy Prime Minister and Minister of Presidential Affairs, Mansour bin Zayed Al Nahyan, witnessed the announcement of an integrated industrial partnership between the UAE, Egypt and Jordan, “in order to achieve sustainable economic development in 5 promising industrial fields, including agriculture, food, fertilizers, medicines, and textiles.” metals, and petrochemicals.
The agency added that “the partnership benefits from the areas of integration between the components, advantages, capabilities, capabilities and experiences in the three countries, including skilled labor, raw materials, strategic geographical location and advanced infrastructure.”
The agency said that “the three countries constitute 26 percent of the population in the Middle East and North Africa, with a population of more than 122 million people, 49 percent of whom are in the youth stage, which means the presence of a large market and young labor force, and these countries are characterized by the presence of infrastructure Sophisticated logistics that includes airports, ports and strategic transport corridors such as the Suez Canal, in addition to the availability of smart financing solutions and national companies with distinguished capabilities in the main focus areas of the partnership.
The partnership was signed in the presence of the Jordanian Prime Minister, Bisher Al-Khasawneh, the Egyptian Prime Minister, Mostafa Madbouly, and a number of ministers from the three countries.
Madbouly considered, in Statement It was reported by the Egyptian Cabinet page, that “the tripartite cooperation document is a realistic embodiment and practical implementation of the goal of Arab economic integration and an inspiring model for transforming the unfavorable conditions that prevail in the world from a plight to a grant.”
The holding company has become the main vehicle for Abu Dhabi’s foreign investments and manages assets worth $110 billion, according to Global SWF data. The company acquired a 40% stake in Louis-Dreyfus Commodity Trading Company in 2021.