A $10 billion investment fund has been allocated and managed by Abu Dhabi's holding company ADQ to accelerate work on the partnership across five priority sectors, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said in a joint conference with Sheikh Mansour on Sunday in Abu Dhabi. (Photo: WAM)
Jordan, the United Arab Emirates (UAE) and Egypt have launched the Industrial Partnership for Sustainable Economic Development to implement industrial projects worth $10 billion.
Jordan’s state-run Petra news agency reported that under the partnership announced on Sunday during a meeting between the three countries in Abu Dhabi, a fund will be created and managed by ADQ, a UAE holding company, to accelerate work across priority sectors.
The partnership, which seeks to boost industrial cooperation between the three countries, aims at implementing joint investments and projects to foster mutual and strategic interests, Xinhua news agency reported.
The investments will be implemented in the fields of pharmaceuticals, agriculture, food manufacturing, petrochemicals, metals, minerals, and others, said the news agency.
Jordan’s Prime Minister Bisher Al-Khasawneh said the partnership will help boost the three countries’ exporting abilities and increase their industrial competitiveness.
He added that the joint investments will have a direct positive impact on their economies and will create much-needed jobs and will help ensure food security in several sectors.
This post was last modified on May 30, 2022 12:16 pm