The Abu Dhabi Investment Authority (ADIA) plans to invest $2 billion in Egypt’s oil, infrastructure and electricity sectors during the second half of 2018, head of the Arab Union for Direct Investment (AUDI), Mohamed Sameh, told Ahram Gate.
The recent meetings of the AUDI in Dubai and Jordan revealed a strong interest from Gulf investors to work in Egypt, said Sameh.
He forecast that Gulf investment will double in the coming period as Egyptian companies are offered on the stock market. The UAE government, banks and individual investors are particularly interested in investing more capital into the Egyptian markets.
This came as President Abdel Fattah El Sisi received Abu Dhabi Crown Prince Sheikh. Mohammed bin Zayed Al Nahyan, who is visiting Egypt for two days accompanied by a number of Emirati officials.