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UAE investment in Egypt up 169% to $1.9bn in first six months

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The value of remittances from Egyptians working in the UAE reached $3.5 billion during the period, rising 1.4 percent year-on-year.

UAE investments into Egypt increased to $1.9 billion (AED 6.98 billion) during the first half of the fiscal year 2021-2022, rising 169 percent year-on-year, UAE state-owned news agency WAM reported, citing Egyptian government data.

According to the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS), the value of the trade between Egypt and the UAE increased to about $1.2 billion during the first quarter of 2022, compared to $1.1 billion in the previous year.

The value of remittances from Egyptians working in the UAE reached $3.5 billion during the period, rising 1.4 percent year-on-year.

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