Egypt and UAE have concluded 90 joint-ventures since January 2001, a 15 percent rise in the number projects compared to the previous year, according to Egypt’s commercial attaché to the United Arab Emirates, Mamdouh Mustafa.
Mustafa added that this figure positions the UAE as Egypt's third largest Arab partner, after Saudi Arabia and Kuwait, reported the Middle East Times.
According to Mustafa, $1.6 billion are to be invested in the 90 projects, with the Emirati partners bringing in 25 percent of the investments. -- (Mena Report)
© 2001 Mena Report (www.menareport.com)
