UAE Companies Investing Abroad Council says Egypt is important destination for Emirati investments

Abu Dhabi: The UAE Companies Investing Abroad Council said Egypt is a major destination for Emirati and Arab investors due to its diversified market, infrastructure as well as the government’s efforts to remove obstacles to inbound investments, from the UAE in particular.

The secretary-general of the council, Jamal Al Jarwan, met with the Egyptian Minister of Investment, Ashraf Salman in Abu Dhabi,

Salman said Egypt’s economy grew at 4.2 per cent in the 2014/2015 fiscal year, up from 2.2 per cent the previous year, and that the budget deficit dropped to 11.5 per cent of gross domestic product in fiscal year 2014/2015. He expected the deficit to drop to 10.25 per cent by the end of this year.