UAE Emerges as Top Investor in Egypt with $9.6 Billion

The Egyptian Commercial Representation Authority has confirmed that the UAE is the largest investor in Egypt on an international level. Data from the General Investment Authority until April 2023 shows that the UAE has invested $9.6 billion in Egypt, with over 1,600 companies operating in various sectors. Yahya Al-Wathiq Billah, the head of the agency, highlighted that economic relations are a key aspect of Egyptian-Emirati relations. The UAE is the second largest trading partner of Egypt in the Arab region, with bilateral trade reaching around $4 billion.

Egypt is the fifth largest Arab trading partner of the UAE in non-oil trade, accounting for 7% of the total. This growing relationship has led to increased cooperation in various fields, particularly in the economic sector. Egyptian exports to the UAE are approximately $2.2 billion, while imports amount to about $1.8 billion in 2023. The main exports include natural pearls, machinery, ready-made clothes, fruits, and vegetables, with imports consisting of fuel, plastics, copper, and fish.

In May 2022, an integrated industrial partnership for sustainable economic development was announced between Egypt, the UAE, Jordan, and later joined by Bahrain. This partnership aims to develop five promising industrial fields, with an investment fund of $10 billion dedicated to emerging projects. Several agreements and partnerships were signed during the third meeting of the Supreme Committee for Integrated Industrial Partnership for Sustainable Economic Development in February 2023.

Meetings between officials from the UAE and Egypt have strengthened bilateral cooperation in various economic sectors. The UAE has been at the forefront of countries signing agreements with Egypt in the field of new energy, such as a project to develop a 10 Giga Watt wind energy capacity in Egypt. This project is expected to reduce natural gas costs and carbon emissions.

Recent times have seen significant contributions from UAE capital to international investments directed towards the Egyptian market. Several important investment deals and acquisitions have been made in the industrial, real estate, service, logistical, and energy sectors.