On Sunday, the United Arab Emirates announced that the Abu Dhabi government-owned holding company would allocate $10 billion to invest in projects with Egypt and Jordan.
And according to what was reported by the Emirates News Agency, the Deputy Prime Minister and Minister of Presidential Affairs, Mansour bin Zayed Al Nahyan, witnessed the announcement of an integrated industrial partnership between the Arab Emirates States, Egypt and Jordan, “to achieve sustainable economic development in 5 promising industrial areas, including agriculture, food and fertilizers.” pharmaceuticals, textiles, metals and petrochemicals.
The agency added that “the partnership benefits from the areas of integration between 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% of the population of the Middle East and North Africa, with a population of more than 122 million people, of which 49% are at the youth stage, this which means the presence of a large market and a young labor force, and these countries are characterized by the presence of infrastructure Sophisticated logistics which includes airports, ports and strategic transport corridors such as the Canal de Suez, in addition to the availability of smart financing solutions and domestic companies with distinct capabilities in key priority areas of the partnership.
The partnership was signed in the presence of Jordanian Prime Minister Bisher Al-Khasawneh, Egyptian Prime Minister Mostafa Madbouly and several ministers from the three countries.
Madbouly considered, in a statement carried by the Egyptian Cabinet page, that “the tripartite cooperation document is a realistic embodiment and a practical implementation of the objective of Arab economic integration and an inspiring model to transform the unfavorable conditions prevailing in the world from a predicament to a subsidy.”
The holding company has become Abu Dhabi’s main foreign investment vehicle and manages assets worth $110 billion, according to data from Global SWF. The company acquired a 40% stake in Louis-Dreyfus Commodity Trading Company in 2021.