Ras Al Khaimah, May 12th, WAM/ The Ras Al Khaimah Chamber of Commerce and the General Authority for Investment and Free Zones of the Arab Republic of Egypt discussed investment opportunities in Egypt and ways to enhance joint economic cooperation with investors in the Emirate of Ras Al Khaimah.
This came during a meeting with His Excellency Mohamed Musabeh Al Nuaimi, Chairman of the Ras Al Khaimah Chamber of Commerce, Hossam Haiba, CEO of the General Authority for Investment and Free Zones of the Arab Republic of Egypt, and his accompanying delegation, in the presence of Ashraf Hamdy, Minister Plenipotentiary for Trade at the Egyptian Embassy in the country, Arefa Al Falahi, member of the Chamber’s Board of Directors, and Mohamed Al Sabb, Director Acting General of the Chamber, and representatives of the Ras Al Khaimah Economic Zones Authority “RAKEZ”.
During the meeting, they reviewed promising investment opportunities in Egypt, and the most prominent sectors that attract foreign investments. The two sides also reviewed the possibility of establishing investment partnerships in Dubai in a number of fields, taking advantage of the trade and investment agreements that link Egypt with the UAE.-
The CEO of the General Authority for Investment affirmed that Egypt opens its arms to Gulf and Arab investments to establish commercial, industrial and agricultural partnerships that benefit the participating parties.-
The two sides agreed to organize an Egyptian-Emirati forum periodically to discuss investment opportunities between them, while Hossam Haiba reviewed the most important steps taken by the General Authority for Investment and Free Zones to facilitate investors and create a business environment, the most important of which is the creation of a unit for granting golden licenses, which includes all permits and licenses in one license. It is granted to projects of a developmental nature, in addition to the authority’s efforts to continuously update the investment opportunities available on Egypt’s investment map, pointing out that the United Arab Emirates ranks first in the list of countries investing in Egypt, as it contributed to the establishment and operation of more than 1,300 companies operating in Egypt. .
For his part, His Excellency Mohammed Musabah Al Nuaimi, Chairman of the Chamber, reviewed during the meeting the promising investment opportunities in the Emirate of Ras Al Khaimah, developments in the investment environment, and the most important steps taken by the Emirate to invest in several sectors and free zones to facilitate investors and create a business environment, stressing the keenness of the Chamber and all concerned departments in the Emirate of Ras Al Khaimah , for supporting Emirati investments in Egypt and vice versa, praising the success stories of the investments of Emirati companies in Egypt, which contributed to motivating many Emirati investment companies and institutions to pump new investments in Egypt, praising the development of the investment environment in Egypt, and the doubling of the volume of economic cooperation between the UAE and Egypt He appreciated the effective role played by the General Authority for Investment and Free Zones in facilitating the work and tasks of Emirati companies in Egypt.