{"id":548096,"date":"2022-07-26T04:00:47","date_gmt":"2022-07-26T04:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/26\/one-giant-leap-for-regional-integration\/"},"modified":"2022-07-26T04:00:47","modified_gmt":"2022-07-26T04:00:47","slug":"one-giant-leap-for-regional-integration","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/26\/one-giant-leap-for-regional-integration\/","title":{"rendered":"One giant leap for regional integration\u2026"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt, Jordan + UAE choose projects for joint industrial partnership<\/strong><strong>: <\/strong>Egypt, Jordan, the UAE, and now Bahrain, have identified USD 3.4 bn-worth of joint investment projects in the first phase of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248f9feb-5ba0-4777-b6a8-e910c3e8cc67\">USD 10 bn<\/a> industrial partnership signed in May, according to a joint <a href=\"https:\/\/ent.news\/2022\/7\/Egypt-UAE-Jordan-partnership-July-2022.pdf\">statement (pdf)<\/a> yesterday. Three days of talks in Cairo this week have seen officials from the four countries choose 12 projects in the food, agriculture, pharma and fertilizers sectors. The next stage of the partnership will focus on the metals, chemicals, plastics and textiles industries, the statement said.<\/p>\n<p><strong>The UAE is bankrolling the agreement: <\/strong>The Emirates <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid0M3xtoqwTdTnBDUCDpE8Zbshxu7oQU1MtY7rVvRbbYWgCSAow1sCZ5y4EZxt1TrESl\">confirmed<\/a> it will contribute USD 10 bn to the initiative, which will be managed by Abu Dhabi sovereign wealth fund ADQ. UAE\u2019s Industry and Advanced Technology Minister Sultan Al Jaber \u2014 who has long helped shepherd the UAE\u2019s relationship with Egypt \u2014 said that the country is keen to invest in the sectors covered by the partnership.<\/p>\n<p><strong>Three\u2019s a crowd, four\u2019s a party:<\/strong> Bahrain has officially signed on to the regional agreement, according to the statement. \u201cBahrain joining will be a great boost to the partnership and push forward its agenda of achieving sustained regional growth,\u201d Jordan\u2019s Industry, Trade and Supply Minister Yousef Al Shamali said.<\/p>\n<p><strong>What are they looking for? Hedging against supply chain disruptions is key. <\/strong>All four member countries affirmed that the partnership is hoped to link supply chains and integrate industrial and logistics networks to minimize supply chain disruptions. But more than that:<\/p>\n<ul>\n<li><strong>Jordan wants to safeguard crucial supplies:<\/strong> Al Shamali <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid0CZyPGprmKqRF8sG99o8rsiY8TCeS2tXdpUbohhRTnrm28CYK8pnFDHtMFSGkqzbTl\">stressed<\/a> that the committee had focused on projects to secure steady supplies of food and meds.<\/li>\n<li><strong>Ditto Egypt: <\/strong>Trade Minister Nevine Gamea <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid0DBaMW8YPp4spZKUmzdLpcxJnC5VDwkghX9Au67a68xKVzmWsBg3iPWzhuiLfqRPZl\">said<\/a> the partnership is necessary to guard against the disruptions caused by the global economic crisis \u2014 and that it will spur sustainable growth and job creation.<\/li>\n<li><strong>Bahrain basically wants export markets: <\/strong>Bahrain wants to increase food and fertilizers, pharma, textiles, metals, and petrochemicals exports, Industry and Commerce Minister Zayed Al Zayani told <a href=\"https:\/\/twitter.com\/SNABusiness\/status\/1551559660813127681\">Sky News Arabia<\/a> yesterday.<\/li>\n<\/ul>\n<p><strong>We\u2019re still waiting on a lot of details:<\/strong> It remains unclear which projects are in line for funding or how the money is being allocated. Al Shamali told CNBC Arabia yesterday (<a href=\"https:\/\/bit.ly\/3z59aSo\">watch,<\/a><a href=\"https:\/\/bit.ly\/3z59aSo\">runtime: 1:27<\/a>) that Jordan will take part in 10 of the 12 projects, which will receive USD 3.2 bn in investment, though how Egypt, the UAE and Bahrain fit into the partnership is still to be announced.<\/p>\n<p><strong>A \u201cmatter of life or death\u201d:<\/strong> Those were the words used by Prime Minister Moustafa Madbouly <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032zJvdCy8v6K3okyu2fGdubsDRRnGbxxaTnLZH1WW8CUxi7aKiowgdQ8v1EU9694tl\">during a meeting<\/a> with the officials yesterday. The PM used the occasion to call on all four countries to take the initiative seriously and deliver on the projects. He urged the group to set a timetable and pledged to cut any red tape slowing the process.<\/p>\n<p><strong>Private sector participation crucial: <\/strong>Al Jaber called on private sector companies to take part in the committee\u2019s policy discussions so they can best benefit from the investments that are to come. The high committee will be holding meetings with companies interested in participating, the statement said.<\/p>\n<p><strong>The next steps: <\/strong>The committee has commissioned feasibility studies for the selected sectors, will then issue a detailed investor roadmap for the upcoming projects, according to the statement.<\/p>\n<p><strong>The news got plenty of coverage on the airwaves last night:<\/strong> El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=PHa4ZEWVDF4\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=PHa4ZEWVDF4\"><\/a><a href=\"https:\/\/www.youtube.com\/watch?v=PHa4ZEWVDF4\">8:33<\/a>) and Hadeeth El Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=Fvamn_lcfpE\">watch, runtime:31:52<\/a>) both had Trade Minister Nevine Gamea on to discuss the partnership, while Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=Uk1V1K4ZmAk\">watch, runtime: 8:08<\/a>) dedicated some to time discussing what it means for Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt, Jordan + UAE choose projects for joint industrial partnership: Egypt, Jordan, the UAE, and now Bahrain, have identified USD 3.4 bn-worth of joint investment projects in the first phase of a USD 10 bn industrial partnership signed in May, according to a joint statement (pdf) yesterday. Three days of talks in Cairo this week [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":548097,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[299,473,72,125,1033,131,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-adq","tag-bahrain","tag-enterpriseam","tag-investment-watch","tag-jordan","tag-manufacturing","tag-uae","wpautop","entry"],"acf":{"mongo_id":"69b76229-000b-4d65-90e9-9267d1f9903d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/267.jpg","photo_position":"above","related_issue":[548092],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>One giant leap for regional integration\u2026 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/26\/one-giant-leap-for-regional-integration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One giant leap for regional integration\u2026\" \/>\n<meta property=\"og:description\" content=\"Egypt, Jordan + UAE choose projects for joint industrial partnership: Egypt, Jordan, the UAE, and now Bahrain, have identified USD 3.4 bn-worth of joint investment projects in the first phase of a USD 10 bn industrial partnership signed in May, according to a joint statement (pdf) yesterday. 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The four countries inked 12 agreements in\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2022\/04\/handshake-agreement-moving-goodbye-travel-suitcase-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548446,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/09\/cfc-group-to-build-usd-400-mn-industrial-complex-in-qena-under-the-new-regional-industrial-partnership\/","url_meta":{"origin":548096,"position":1},"title":"CFC Group to build USD 400 mn industrial complex in Qena under the new regional industrial partnership","author":"enterpriseam admin","date":"9 August 2022","format":false,"excerpt":"Emirati fertilizer company CFC Group will establish an industrial complex in Qena Governorate under the new joint industrial partnership between Egypt, the UAE, Jordan and Bahrain, senior figures in the company told us yesterday, confirming information originally reported by Al Mal.About the Qena complex: The firm will invest USD 400\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546807,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/adq-eyes-investment-in-egypt-jordan-manufacturing-pm-pitches-uae-investors-on-infrastructure-projects\/","url_meta":{"origin":548096,"position":2},"title":"ADQ eyes investment in Egypt, Jordan manufacturing + PM pitches UAE investors on infrastructure projects","author":"enterpriseam admin","date":"30 May 2022","format":false,"excerpt":"Abu Dhabi sovereign wealth fund ADQ will invest USD 10 bn in industrial projects in Egypt, the UAE and Jordan as part of a partnership signed in Abu Dhabi yesterday, cabinet said in a statement, citing UAE Industry and Advanced Technology Minister Sultan Al Jaber. The ADQ-managed fund will finance\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547018,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/mps-get-inside-track-on-uae-egypt-jordan-industrial-partnership-new-tax-breaks-may-be-in-store-for-some-industries\/","url_meta":{"origin":548096,"position":3},"title":"MPs get inside track on UAE-Egypt-Jordan industrial partnership + new tax breaks may be in store for some industries","author":"enterpriseam admin","date":"6 June 2022","format":false,"excerpt":"The industrial partnership agreed between Egypt, the UAE, and Jordan last week aims to set up a total of 27 joint projects over three separate implementation phases, Trade and Industry Minister Nevine Gamea told MPs in a plenary session yesterday.The stages: The first step in implementing the joint projects \u201cis\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546768,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/29\/madbouly-continues-egypts-drive-for-fresh-fdi-in-the-uae\/","url_meta":{"origin":548096,"position":4},"title":"Madbouly continues Egypt\u2019s drive for fresh FDI in the UAE","author":"enterpriseam admin","date":"29 May 2022","format":false,"excerpt":"Prime Minister Moustafa Madbouly will launch a new industrial partnership with the UAE and Jordan in Abu Dhabi today, according to a cabinet statement. The PM is leading a delegation of cabinet ministers and senior officials to the Emirati capital where they will announce the initiative alongside Emirati and Jordanian\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547110,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/shoukry-meets-iraqi-jordanian-officials-in-baghdad-uae-egypt-jordan-industrial-partnership-gets-central-bank-push\/","url_meta":{"origin":548096,"position":5},"title":"Shoukry meets Iraqi, Jordanian officials in Baghdad + UAE-Egypt-Jordan industrial partnership gets central bank push","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"Shoukry discusses boosting cooperation with Iraqi PM and Jordanian FM in Baghdad: Foreign Minister Sameh Shoukry met his Iraqi and Jordanian counterparts in Baghdad to discuss bilateral ties, the ministry said Monday, without providing further details. The three countries have sought to deepen economic, trade and commercial ties in recent\u2026","rel":"","context":"In &quot;Diplomacy&quot;","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548096"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548096\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548097"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548096"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548096"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}