Emirati investments in Egypt reach $29bln: UAEIIC’s Secretary General

Emirati investments in Egypt reach $29bln: UAEIIC’s Secretary General



UAE’s total investments in Egypt have reached nearly $29 billion, Secretary General of UAE International Investors Council (UAEIIC) Jamal Aljarwan said in an interview with Asharq Business.

Aljarwan noted that the Emirati private sector is considering pumping further investments into the Egyptian market within the coming five years, with the aim of accessing African and European markets.

He added that injecting a dollar liquidity ranging between $10 billion and $15 billion into the Egyptian market could fill in the country’s financing gap, which amounts to $25 billion.

Additionally, using local currencies in intraregional trade with partners could accelerate easing Egypt’s liquidity squeeze, Aljarwan said.

 

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