Sovereign Fund of Egypt and Abu Dhabi Development Holding Co. launched joint strategic investment platform in 2019 with value of $20 billion CAIRO: Egyptian President Abdel-Fattah El-Sisi said his country looked forward to strengthening ties with the UAE and exploring further cooperation to achieve both countries’ interests. El-Sisi said this on Tuesday, Aug. 11, while meeting Sheikh Tahnoun bin Zayed Al-Nahyan, the UAE’s national security adviser, as the latter led a high-level delegation to the North African country. The meeting focussed on economic and trade ties, said a statement released by presidential spokesman Bassam Rady following the meeting, which took place at the presidential headquarters in New Alamein City. Officials from both sides discussed the consolidation of strategic relations between the two countries and the “pillars they represent for the stability of the entire Arab region,” said the statement. The meeting, it said, also discussed efforts to promote joint Emirati-Egyptian investments in Egypt across various sectors. Al-Nahyan praised the investment and commercial climate in Egypt in light of the comprehensive development process the country is witnessing under El-Sisi’s leadership, “which provides unprecedented opportunities for Emirati and foreign investments in the Middle East and Africa as a whole,” the statement added. Al-Nahyan stressed the UAE’s keenness to strengthen the frameworks of strategic cooperation between the two countries at various levels, and its aspiration to extend those strategic relations to future generations. The Sovereign Fund of Egypt and the Abu Dhabi Development Holding Co. launched a joint strategic investment platform in 2019 with a value of $20 billion, with the latter financing investment projects worth $3 billion. Mohamed Al-Suwaidi, CEO of Abu Dhabi Holding Group, said Egypt is a promising market with projects appealing to investors. Al-Nahyan conveyed to El-Sisi the greetings of the UAE’s leaders, with the president reciprocating, praising the “strong” relations between the two countries, said the statement.