Mohamed Bin Zayed, Abdel El Sisi Attend Launch Of Joint Strategic Investment Platform

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 14th Nov, 2019) His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Abdel Fattah El Sisi, President of Egypt, today attended the launch of a joint strategic investment platform worth US$20 billion, funded equally by the Abu Dhabi Development Holding Company and the Misr Sovereign Fund.

The partnership between the company and the fund aims to establish joint strategic investment projects, as well as specialist funds and investment tools in several key sectors, most notably manufacturing, conventional and renewable energy, technology, food, real estate, tourism, healthcare, logistics, financial services and infrastructure.

The agreement was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of State, and Dr. Hala Helmy Al Saeed, Egyptian Minister of Planning, Follow-up and Administrative Reform and Chairperson of the Egyptian Sovereign Fund.

The signing was attended by H.H. Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser; H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; H.H. Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council; H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; H.H. Dr. Sheikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President; H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office; Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance; Sheikh Zayed bin Hamdan bin Zayed Al Nahyan; Sheikh Khalifa bin Tahnoon bin Mohammed Al Nahyan, Executive Director of the Office of the Families’ of Martyrs Affairs at the Abu Dhabi Crown Prince’s Court; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Chairman of the Abu Dhabi Airports Corporation, and several Sheikhs and officials.

The event was also attended by members of President El Sisi’s accompanying delegation and several experts and specialists from both sides.

During the event, Dr. Al Jaber said, "In line with the directives of the UAE’s leadership, we are delighted to sign this agreement, which aims to establish a strategic investment platform between the UAE and Egypt to reinforce their distinguished ties."

The initiative also aims to create a new innovative vision of cooperation, by encouraging joint strategic investments that will generate profits for both sides, he added, noting that the agreement will establish an official framework for future partnerships and facilitate the implementation of target initiatives and projects.

"This agreement reflects the strong ties between Egypt and the UAE since the era of the late Sheikh Zayed bin Sultan Al Nahyan that are based on prioritising development and social services and achieving the ‘Sustainable Development Strategy 2030,’ in line with the vision of President El Sisi and his support for this partnership, which will increase the participation of the private sector in the Egyptian economy, as a key driver of economic growth." Dr. Al Saeed said.

The fund’s partnership with the company is its first related activity, she added, noting that it will target several investment sectors.