Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO & Chairman of Ports, Customs and Free Zone Corporation, recently met in Egypt with Sharif Ismail, the Egyptian Prime Minister. The meeting aimed to explore more future cooperation opportunities between Egypt and Dubai, within DP World’s efforts to boost its presence in the Egyptian market and consolidate economic relationships between the United Arab Emirates and Egypt.
The meeting was also attended by Ahmed Darwish, Chairman, General Authority for Suez Canal Economic Zone, and Juma Mubarak Al Junaibi, the UAE Ambassador to Egypt.
The Egyptian Prime Minister stressed the importance of the UAE’s investments in Egypt expressing Egypt’s appreciation to the UAE’s supporting role. He also said that the current investment climate in Egypt is very promising, especially after the latest amendments to the Egyptian Investment Law.
Ismail confirmed Egypt’s keenness to develop its economic relationships with the UAE, praising the progress attained by the UAE across the board and its role in supporting international trade and developing global ports industry.
“The petrochemical project, that is currently setup in Ain Sukhna, will open the door wide to a number of business and investment activities and will pave the way to establish an integrated logistic zone for petrochemical products,” he added.
Sultan Ahmed Bin Sulayem said that the UAE and Egypt have strong historical relationships that are getting even stronger with more cooperation taking place.
“DP World is highly interested in getting involved in projects on Egyptian ports, especially the new Swiss Canal development project. Now we are exploring new prospects to increase our presence there,” said Bin Sulayem.
“Nobody can deny the important role Egypt plays in supporting other Arab states. We also look forward to more investments into the promising Egyptian market in different sectors. We need to fulfil our obligations in enhancing Egypt’s economic developments following the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces,” continued Bin Sulayem.
“Dubai’s non-oil trade with Egypt was worth AED 8.1 billion in the first half of 2016 with an 11% increase from AED 7.3 billion scored during the same period of 2015. The significant growth came as part of the excellent ties that bind the leaderships and peoples of the UAE and Egypt,” bin Sulayem explained.
The plans to increase DP World’s investments in Egypt were well received by the Egyptian media and business experts.