The peoples of Egypt and the UAE share genuine values of brotherhood, fraternity and rapprochement, President El-Sisi said in a recorded video message aired during the celebrations of the 50th anniversary of Egypt-UAE that was held in  Cairo under the title "Egypt And UAE Are One Heart" on Wednesday.

The event was attended by Prime Minister Mostafa Madbouly and  a number of state officials and ministers as well as the Ambassador of the UAE in Cairo.

"We appreciate and take pride in such real and true values with the people of the UAE," El-Sisi said.

"The peoples of Egypt and the UAE are always one heart," added the president.

Egypt-UAE bilateral ties will remain an example for distinguished relations among Arab countries, El-Sisi said, adding that the two nations enjoy understanding and rapprochement of viewpoints.

Egypt-UAE ties are not confined to brotherhood and real friendship only, but also to the true, deep as well as accurate understanding of conditions in the region and the world, he said.

The president noted that Egypt-UAE relations also call for promoting integration, cooperation and joint interests, which, he added, gives such ties strength, depth and sustainability.

Economic and investment cooperation in all fields in general are at the highest level between the two countries and future horizons for comprehensive cooperation are promising and progressing for the sake of the two peoples and the Arab world at large, the president pointed out.

UAE among first supporters of Egypt

Prime Minister Moustafa Madbouly, who attended the celebrations, said UAE has always been among the first supporters of the Egyptian state in critical times.

Madbouly added that the occasion provides an excellent opportunity to develop common denominators and assert meanings of brotherhood within the single Arab body.

The Egyptian premier said Egypt and Egyptians have always been keen on making contributions to the UAE in the fields of education, health, culture and justice.

He lauded the volume of UAE investments in Egypt, saying that direct UAE investments in Egypt have reached $4.6 billion in the first nine months of the fiscal year 2021/2022.

He noted that the UAE is the first country to allocate investments to Egypt with a share of 29 percent of the total foreign investments flowing to the country in this period and about 72 percent of the total Arab investments flowing to Egypt in the same period.

Egypt is keen on building successful economic partnerships with the UAE by implementing a number of productive projects, especially in the agricultural and industrial fields, to increase the levels of self-sufficiency, the prime minister pointed out.

Egypt also eyes the effective participation of UAE investors in offering programs under the umbrella of the State Ownership Policy Document, Madbouly noted.

He also asserted the importance of coordination and cooperation between the Sovereign Fund of Egypt and the sovereign funds in the UAE to implement projects in priority areas between the two countries to maximize the return on the investment assets of the two countries.

He  noted that this celebration is an opportunity to tackle investment opportunities between the Egyptian and UAE businesses in the sectors of health, pharmaceutical manufacturing, real estate development, financial services, digital transformation, infrastructure, communications, agriculture, and food processing.

Egypt-UAE economic cooperation is solid

Minister of Planning and Economic Development Hala El-Said said in her remarks at the event that Egypt-UAE relations are an exceptional model for Arab-Arab relations that have succeeded in confronting different global economic crises and geopolitical changes.

El-Said noted that the planning ministry is keen to develop cooperation with the UAE in the fields of upgrading institutional performance, government services, and innovation, pointing to the launch of the Egyptian Government Excellence Award in 2018 in cooperation with the UAE, which aims to transfer expertise and best practices.

The cooperation projects between the two sides covered aspects of enhancing digital transformation mechanisms and institutional development, the minister said, pointing to the outlining of an integrated strategy to develop government services and establishing Model Integrated Government Services Centers, the first of which will be opened in Aswan before the end of this year.

She said the establishment of an investment platform between the Sovereign Fund of Egypt (TSFE) and the Abu Dhabi Holding Company, which took place under the umbrella of a protocol signed November 14, 2019, pumped joint investments exceeding $20 billion to implement economic and development projects.

Moreover, El-Said said the capital of  the TSFE , which plays a vital role as the country's investment arm, has been increased from EGP 200 billion to EGP 400 billion, adding that the move came in light of a goal set to increase the fund's capital from EGP 200 billion to EGP 1 trillion within the upcoming five years in order to implement projects in accordance with the fund's plans.