(MENAFN- Daily News Egypt) Egypt's Minister of Public Enterprises Sector Mohamed El-Shimy met with Hamad Obaid Al Zaabi, the newly appointed UAE Ambassador to Egypt, to discuss ways to enhance bilateral cooperation, particularly in the industrial and investment sectors.

Both sides underscored the importance of deepening economic ties to achieve the shared goals of comprehensive and sustainable development that serve the interests of both nations.

During the meeting, El-Shimy presented an overview of the ministry's portfolio, highlighting key industrial, production, and service entities, as well as ongoing modernisation and development programmes.

He reaffirmed the ministry's open approach to partnerships with the private sector, both domestic and foreign, within the framework of the state's efforts to promote sustainable development, localise technology, and strengthen local manufacturing.

El-Shimy also pointed to promising investment opportunities across various sectors, stressing the ministry's full support for all forms of partnerships that ensure mutual benefit. He reiterated the government's commitment to creating an attractive investment climate and to addressing any challenges that investors may encounter.

For his part, Ambassador Al Zaabi praised the strong and historic relations between Egypt and the UAE, noting that Egypt remains a key investment destination thanks to its strategic advantages, developed infrastructure, and unique geographic location.

He added that numerous Emirati companies are showing growing interest in expanding their presence and investments in the Egyptian market, reflecting the UAE's confidence in Egypt's economic prospects and reform trajectory.

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