AMMAN — Jordan, the UAE and Egypt signed the Integrated
Industrial Partnership Initiative for Sustainable Economic Development on
Sunday in Abu Dhabi, in the presence of Prime Minister Bisher Al-Khasawneh, UAE
Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin
Zayed Al-Nahyan, and Egyptian Prime Minister Mostafa Madbouly, Al-Mamlaka TV
reported.
اضافة اعلان
The UAE Minister
of Industry and Advanced Technology Sultan Ahmed Al-Jaber announced that the
Abu Dhabi government-owned holding company will allocate an investment fund of
$10 billion to invest in projects stemming from the partnership with Jordan and
Egypt in agreed sectors with the aim of achieving sustainable economic
development.
Khasawneh said
that the Jordanian-Emirati-Egyptian tripartite meeting in Abu Dhabi this week
“embodies the depth of partnership and distinguished relations between our
countries and peoples, who are always looking forward to more achievements in
various fields of cooperation.”
He added that
His Majesty King Abdullah II’s continuous meetings with his two brothers,
President Abdel Fattah Al-Sisi, and His Highness Sheikh Mohammed bin Zayed,
directed us to the importance of complementary work with the brothers in Egypt
and the UAE at various levels, especially the political and economic levels.
Khasawneh indicated
that Jordan, the UAE and Egypt are able to achieve industrial integration,
based on a supreme political will strongly pushing towards this goal.
He pointed out
that the industrial sector in Jordan is witnessing a rapid development and is
attracting foreign investments. He added that the sector’s share of the GDP is
approximately 24 percent while making up 90 percent of the total national
exports and 70 percent of the total foreign investments. It employs about 21
percent of the total workforce.
The Prime Minister
explained that the Jordanian industrial sector demonstrated high capabilities
during the pandemic and played a pivotal role in providing the local market
with its needs of various commodities, in light of the slowdown in the
international shipping.
For his part,
Jaber said that “in 2019, the contribution of the petrochemical industry to the
GDP in Jordan, the UAE and Egypt combined was $16 billion, which provides
promising opportunities for the development of this sector and its related
industries, valued at more than $21 billion.”
He explained
that this ambitious partnership will lead to the provision of industrial
opportunities with added economic value estimated at billions of dollars, and
the development of more joint industrial projects in the future.
The initiative kicks off
“unprecedented” cooperation to achieve economic integration in many fields,
especially in the industrial areas, Minister of Industry, Trade and Supply,
Yousef Shamali, said. The initiative will take advantage of the large logistical
potentials, transport infrastructure, and smart financing solutions, which
ultimately aims to establishing integrated industries that would contribute to
diversifying the economy, promoting its growth and creating specialized job
opportunities, he added.
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