Dr Mohieldin Holds Intensive Meetings in U.A.E 

Developments of the investment and economic relations between Egypt and the United Arab Emirates were discussed when the Minister of Investment, Dr. Mahmoud Mohieldin, met with top Emarati officials. Mutual investment and development cooperation opportunities were reviewed, especially infrastructure-related projects.

The Egyptian delegation to the United Arab Emirates consisted of senior officials from the Ministries of Investment, Housing and Utilities, and Transport.

Dr. Mohieldin's first meeting was with His Royal Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the U.A.E Armed Forces.

The meeting discussed ways to boost joint investments and renewable energy projects, especially infrastructure. These talks highlighted the importance of the diversity of such projects in different governorates of Egypt.

Sheikh Al Nahyan praised the recent positive developments in the Egyptian economy.

"U.A.E institutions have a serious desire to closely study the investment opportunities, given the Emarati support to investments in Egypt and the outstanding opportunities in several sectors," he added.

Dr. Mohieldin also met with H.R.H. Sheikh Tahnoon bin Zayed Al Nahyan, Secretary General of the Abu Dhabi Executive Council and Chairman of Amiri Aviation.

The minister also reviewed a number of investment and development projects, including infrastructure projects in Upper Egypt; as well as opportunities in agriculture, agro-processing, renewable energy, transport and housing for the youth and low income groups.

"The Abu Dhabi government is interested in investing benefiting from the excellent bilateral relations and the good investment climate in Egypt. The coming period will witness further investments in a number of priority projects," Sheikh Tahnoon noted.

Dr. Mohieldin had a meeting with the Minister of Higher Education and Scientific Research, His Highness Sheikh Nahyan bin Mubarak Al Nahyan.

The meeting discussed cooperation in technology, medical services, education and scientific research with a view to designing an educational service, which satisfies the needs of Emeriti investment and industrial institutions.

His Royal Highness Sheikh Nahyan highlighted the deep ties between the political leaders and the people of both countries thanks to the policy established by the late Sheikh Zayed bin Sultan Al Nahyan and President Mubarak.

He noted that His Royal Highness Sheikh Khalifa bin Zayed Al Nahyan, the U.A.E President, pursues the same policy to strengthen ties between the two countries.

"The U.A.E is interested in developing bilateral cooperation in various fields, including projects that will strengthen the economy and encourage continued development to achieve both countries’ interests," he noted.

Later on, Dr. Mohieldin and the Egyptian delegation held a series of bilateral meetings with some major local investment groups focused on new and renewable energy, construction, telecommunications, transportation and logistics. They reviewed the groups' projects and investment activities in the Egyptian market as well as with other targeted projects in the fields of housing, transport, energy and the environment. A range of opportunities were also discussed.

"It was agreed to invite some investment missions from these groups in order to design an executive program for relevant projects", Dr. Mohieldin stated. The General Authority for Investment and relevant holding companies are assigned to create a special program for each group, serving its investment goals.

Dr. Mohieldin and the Egyptian delegation toured the exhibition on the Future of Energy, which is held on the sidelines of the World Future Energy Summit, hosted by the U.A.E, and gathering some 100 delegations and 600 companies operating in the field of energy.

The Minister highlighted the U.A.E's role in the field of new and renewable energy during his meeting with Dr. Sultan Al Jaber, CEO of Abu Dhabi Future Energy Company (MASDAR). This role, he added, covers investments linked to scientific research, institutional development and the rational use of energy in order to address the climatic change issue and the future of renewable energy in the world.

The meeting discussed the developments of bilateral cooperation in these fields and the contribution to implementing a program to qualify Egyptian companies for the reduction of carbon emissions, within the Clean Development mechanisms.

Dr. Mohieldin's agenda included a meeting with the Egyptian Business Council in the U.A.E, members of the Egyptian community in Dubai, some Egyptian investors and representatives of Egyptian companies operating in the U.A.E, representatives of the Egyptian banks and financial institutions (namely the National Bank of Egypt, the Commercial International Bank, Banque Misr, and the Arab African Bank) and the director of the branch of the Egyptian Contracting Company, Mr. Mokhtar Ibrahim.

The latter company has been operating in the U.A.E market since the mid-1990s, and is implementing a number of major infrastructure projects in the U.A.E, totaling EGP 4 billion includingprojects, which are currently underway, for EGP 1 billion.

The meeting was attended by Egypt's Ambassador to the U.A.E, Tamer Mansour; Egypt's Consul General to Dubai and Northern Emirates, Mohab Nasr; and Trade Commissioner, Abdel Rahman Abdel Rauf.

During the meeting, an open dialogue with the representatives of the Egyptian community discussed the latest developments of the investment and business climate in Egypt, investment opportunities, the current situation of Egyptian companies and investments operating in the U.A.E, as well as other opportunities to enhance communication and cooperation with the members of the community.