UAE, Egypt launch $20 bln investment platform: Abu Dhabi Crown Prince
November 14, 2019, 9:40 am

UAE, Egypt launch $20 bln investment platform: Abu Dhabi Crown Prince

The UAE and Egypt have agreed on a $20 billion strategic investment platform for economic and social projects, according to a tweet by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

Egyptian President Abdel Fattah al-Sisi is currently on an official state visit to the UAE.

The UAE and Egypt are working closely together to promote toleration and combat extremism in the region, UAE Ambassador to Egypt Juma Aljunaibi told Al Arabiya English, as Egyptian President Abdel Fattah al-Sisi visited Abu Dhabi on Thursday.

“Politically, the UAE and Egypt face the same direction in addressing many of our region’s complex dynamics, particularly in efforts to promote tolerant societies and the fight against extremism,” said Ambassador Aljunaidi in an interview with Al Arabiya English.

Sheikh Mohammed said the idea behind the platform is to “implement vital economic and social projects for our brotherly countries.”

Economically, Egypt is a strategic business partner for the UAE, a key destination for Emirati tourists, and an attractive investment destination for Emirati investors, said Ambassador Aljunaibi.

In March 2019, Egypt and the UAE inked memorandums of understanding (MoU) to focus on ensuring integrated management of water resources, and to address cooperation in the this field.

Egypt has also received high levels of foreign aid from the UAE. In 2014, Egypt enjoyed the equivalent of approximately 52 percent of the UAE’s foreign aid.

“The UAE is solely concerned with boosting the prosperity of Egypt and its people through aid and development assistance,” Ambassador Aljunaidi said. “It’s not just about helping people; it’s about helping develop Egypt’s economy to achieve a positive impact on the region as a whole.”

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”