UAE will not be alone at the in a new wave of Gulf investments in the North African nation.
During the Cairo visit of Saudi Crown Prince Mohammed bin Salman (MBS) some 14 deals worth $7.7bn were signed in vital sectors in Egypt, including energy, food, and fintech. A joint statement later said Saudi Arabia is determined to lead $30bn investments in the most populous Arab country, without disclosing further details.
The fresh Saudi-Egyptian agreements followed hard on the heels of a spike in the UAE’s investments in Egypt. With a multitude of acquisitions and expansions either planned or already executed, the Emiratis are looking to increase their investments in the third largest Arab economy by 75% in the coming five years, which will take their overall value to $35bn in 2027.
“Of course, Egypt as a matter of principle is one of the Middle East’s largest markets … given the population
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