Egypt, UAE partnership will continue to flourish: Sultan Al-Jaber

Ahram Online , Tuesday 28 Jul 2015

Sultan Al-Jaber
UAE Sultan Al-Jaber

The United Arab Emirates' support for Egypt will continue to ensure stability in Egypt and consequently the stability of the region, UAE minister of state Sultan Al-Jaber told Emirates News Agency (WAM).

"The UAE’s support for Egypt is firmly rooted in the conviction that Egypt’s stability and prosperity is stability and prosperity for the region," the minister said in an interview published on Monday.

The oil-rich nation has, along with Saudi Arabia and Kuwait, provided billions of dollars in aid and financial assistance to Egypt since the July 2013 ouster of Islamist president Mohamed Morsi.

"We are confident this partnership will continue to flourish. What is important at this stage is to intensify the work focused on the revitalisation of the Egyptian economy and development of the legislative system. This will increase growth rates, and allow for new projects to open doors for economic and social prosperity as well as new investments," he added.

There are over 600 UAE companies operating in Egypt, according to Al-Jaber.

The local arm of UAE-based telecoms firm Etisalat is Egypt’s third largest mobile operator.

"The goal now is to increase the attractiveness of the Egyptian market. Furthermore, given the rapid population growth, there is an urgent need to create jobs through expansion and new market growth,” said the minister.

“Dr. Al Jaber went on to say that the investment climate in Egypt for UAE investors can become more attractive with the help of legislative amendments to simplify procedures and create an integrated experience,” said WAM.

The UAE’s National Marine Dredging Company (NMDC) was part of a consortium which dredged for the expansion of Egypt’s Suez Canal, a project set to be unveiled in a lavish ceremony on 6 August, just one year after groundwork began.

“The NMDC founded and led the ‘Challenge Consortium’ including the Dutch and Belgium firms Boskalis, Van Oord, and Jan De Nul that, in turn, was able to deliver the necessary dredging in record time.

“This achievement validates the ability of the Egyptian people to stand in the face of adversity with great resolve, determination and success,” he said of the new canal.

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