A series of Memoranda of Understanding (MoUs) were signed on Tuesday between top officials from Egypt and the UAE, marking a significant step in strengthening bilateral ties and promoting sustainable economic growth.
The ceremony, held at the Egyptian Parliament in the New Administrative Capital, was attended by Dr. Mostafa Madbouly, Prime Minister of Egypt, Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and other key figures from both countries.
The agreements aim to boost industrial and technological investment in Egypt, focusing on renewable energy, energy storage, and the development of a UAE-Egypt industrial zone in East Port Said. The proposed projects include solar cell and panel manufacturing plants, battery energy storage facilities, and solar power plants across Egypt, such as a floating photovoltaic solar plant on Lake Nasser.
Dr. Al Jaber emphasized the UAE's commitment to fostering collaboration in critical sectors, including renewable energy, infrastructure, and advanced industries. He highlighted the potential for these initiatives to create jobs, enhance sustainability, and support the shared economic goals of both nations. Egypt's energy ministry, led by Dr. Mahmoud Esmat, outlined that the projects will align with Egypt's Integrated Sustainable Energy Strategy 2035, increasing the country's renewable energy capacity and reducing reliance on fossil fuels.
A key feature of the MoUs is the establishment of the industrial zone in East Port Said, which covers 20 square kilometers and aims to attract both domestic and international investments in renewable energy, manufacturing, and high-tech industries. AD Ports Group will spearhead infrastructure development in the zone, expected to enhance Egypt’s industrial sector and global competitiveness.
The agreements signal a new era of strategic partnerships between the UAE and Egypt, with an emphasis on sustainable development and green energy solutions.
News Source: Emirates News Agency
