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UAE IIC names Egypt as one of top five investment destinations - Egypt's IDA head

The UAE International Investors Council (IIC) named Egypt as one of the top investment destinations in the coming period, the head of Egypt's Industrial Development Agency (IDA) said.

At the end of the three-day Annual Investment Meeting on Wednesday, IDA Chairman Ahmed Abdel-Razeq said this will contribute to pumping more UAE investments into Egypt.

The council's secretary general underlined that Egypt will witness a boost in investment in view of the efforts exerted by the Egyptian government to encourage foreign investors, secure an investment-attractive environment and solving any problem facing investors.

Meanwhile, the head of the Egyptian commercial office in Dubai, Minister Plenipotentiary Younan Edward,  said the council's decision fructified from the successful talks held between Egyptian Trade and Industry Minister Tareq Qabil and UAE Economy Minister Sultan Bin Saeed Al Mansoori during the latter's March visit to Egypt to attend meetings of the Egyptian-UAE trade committee.

During the committee meeting, Egypt and the UAE agreed to bolster economic and trade cooperation.

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