UAE adopts regulation for virtual assets to stop illegal fund flows

Expo 2020 offers a very good opportunity for both countries to discuss collaboration

UAE and Egypt are working closely together on localising industrialisation, entrepreneurship and trade financing, said Rania Al Mashat, Egypt’s Minister of International Cooperation.

“Expo is coming up in UAE and it’s going to be a very good opportunity for different countries, to discuss collaboration, and actually showcase comparative advantages,” said Al Mashat, on the sidelines of the Egypt International Cooperation Forum (ICF) in Cairo. “UAE has been an important partner for Egypt — the relationships are strategic, economic and political,” said the minister.

Al Mashat said that a high level joint committee between Egypt and UAE was working towards localising industrialisation, entrepreneurship and trade finance.

In 2019, UAE and Egypt signed a $20 billion joint strategic platform to invest in a range of sectors and assets, with each country contributing 50 per cent through Abu Dhabi Development Holding Co and Egypt’s sovereign fund.

UAE has been an important partner for Egypt — the relationships are strategic, economic and political.”

Rania Al Mashat | Egypt’s Minister of International Cooperation

Egypt-ICF

Investment prospects, climate change and food security are among the topics being discussed at the Egypt-ICF, which opened today. The conference will try to “advance dialogue on international cooperation” as the global economy gradually recovers from the strain of a pandemic.

The Egyptian minister said the objective was shed light on the private sector’s role in achieving sustainable development goals (SGDs). “Egypt has been implementing very important projects related to the SDG whether they’re transportation, water, waste management, (or) social housing projects — many of these projects are done by the private sector,” said Al Mashat.