{"id":606631,"date":"2023-09-19T00:00:00","date_gmt":"2023-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/sisi-mbz-talk-economics-investment\/"},"modified":"2023-09-19T00:00:00","modified_gmt":"2023-09-19T00:00:00","slug":"sisi-mbz-talk-economics-investment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/sisi-mbz-talk-economics-investment\/","title":{"rendered":"Sisi + MBZ talk economics, investment"},"content":{"rendered":"

Sisi x MBZ: <\/strong> President Abdel Fattah El Sisi was in Abu Dhabi yesterday for talks with UAE president and ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. The two leaders economic, trade and investment ties as well as regional and international developments, according to readouts from Ittihadiya<\/a> and Abu Dhabi<\/a>. <\/p>\n

Remember: The UAE is a critical partner for Egypt to exit its FX crisis. <\/strong> The UAE is among the Gulf countries Egypt is counting on to purchase state assets and help pull it out of its economic crisis. Abu Dhabi wealth fund ADQ has been the most active Gulf investor since the crisis began last year, investing USD 1.8 bn<\/a> in a number of EGX-listed companies in April and agreeing this year to acquire minority stakes<\/a> in three state-owned firms \u2014 Egyptian Ethylene and Derivatives Company, Egyptian Linear Alkyl Benzene, and Egyptian Drilling Company \u2014 for USD 800 mn.<\/p>\n

The government wants to close this transaction asap: <\/strong> The government is hoping to sign final contracts with ADQ by the end of the month<\/a>.<\/p>\n

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Shoukry at the UN: <\/strong>Foreign Minister Sameh Shoukry is doing the rounds at the United Nations General Assembly in New York city this week, where he participated in bilateral talks, summits, and ministerial meetings focused on Egypt\u2019s foreign policy and sustainable development priorities.<\/p>\n