Business Standard

Jordan, UAE, Egypt launch industrial partnership for $10 bn projects

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

Photo: Bloomberg

IANS Amman
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.
--IANs
int/khz/
 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 30 2022 | 8:07 AM IST

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