The announcement followed a high-level meeting between Prime Minister Mostafa Madbouly and key UAE ministers to discuss ongoing joint projects between the two countries, particularly in Egypt’s industrial sector.
The meeting aimed to ensure the continued progress of these projects and lay the foundation for future collaborations, particularly in airport management.
In January, Asharq Bloomberg reported that Egypt had offered to privatize the management of 11 airports, excluding the Cairo International Airport.
This decision followed Prime Minister Madbouly’s December 2024 announcement of plans to privatize airport operations and introduce public-private partnerships (PPPs) facilitated through a contract with the International Finance Corporation (IFC).
Moreover, El-Homsani clarified that the UAE is also eager to expand cooperation with Egypt in several other critical sectors, including data centres and petroleum and gas fields.

During the meeting, they reviewed the progress of the industrial projects planned for the Ras El-Hekma area. These projects are expected to serve Egypt's long-term development goals for this rapidly developing region.
In February 2024, Egypt signed the $35 billion Ras El-Hekma project on the North Coast with the UAE.
This project resulted in a historic 84 percent increase in foreign direct investment in Africa in 2024, reaching a record $94 billion. According to the United Nations Conference on Trade and Development (UNCTAD) report, this value is the highest in the continent's history.
El-Homsani emphasized that the ongoing projects reflect substantial and tangible progress, demonstrating the growing collaboration between Egypt and the UAE in various sectors.
He also affirmed that they will continue to drive mutual development and prosperity.
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