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ABU DHABI / WAM
The UAE is the second largest Arab investor in Egypt with $5.9 billion in investments over the past four years until the end of 2018, according to a top Egyptian official.
Speaking to reporters on the sidelines of the First Arab Corporate Citizenship Forum held on Wednesday in Abu Dhabi, Chief Executive of the Egyptian General Authority for Invest- ment and Free Zones, Moh-sen Adel, said a total of 114 new Emirati companies have been operating in Egypt since 2018 across multiple investment sectors, primarily, oil & gas, finance, CIT, construction, real estate, services, manufacture, tourism and agriculture. He added that total UAE investment inflows to Egypt last year hit $1.75 billion, a growth of as much as 25 percent over 2017.