Egypt: NAC Set to Welcome Arab Finance Ministers Meetings

Minister of Finance, Mohamed Maait, announced that Egypt's Administrative Capital is fully prepared to host the upcoming meetings of Arab finance ministers in May.

This came during a meeting with Fahd Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund (AMF) on the sidelines of World Bank and IMF spring meetings.

The primary objective of these meetings is to facilitate the exchange of experiences and expertise among Arab countries, particularly regarding the financial policy challenges they currently face.

Minister Maait emphasized the importance of finding effective solutions to these challenges and achieving development goals in the face of global economic crises.

Egypt is keen to enhance cooperation with other Arab nations to promote economic integration within the Arab region.

The country also aims to strengthen collaborative efforts to boost economic activities and encourage mutual investments among Arab countries.

He highlighted Egypt's recent accomplishments in implementing structural and investment reforms, which have successfully attracted significant foreign direct investments, notably exemplified by the Ras El Hekma project.

The Minister expressed gratitude to the Arab Monetary Fund (AMF) for its ongoing support in Egypt's comprehensive development endeavors.

Furthermore, it is worth mentioning that Egypt and the UAE signed a significant real estate investment agreement in February.

The deal, valued at $35 billion, grants the Abu Dhabi Developmental Holding Company (ADQ) the rights to develop the Ras El Hekma project, marking Egypt's largest foreign investment in the North Coast region.

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