Egypt Announces 35Bill Deal With UAE

[Hotchick12]

We could have been the way gateway of Africa for Middle Eastern investors, we could have coastal resort cities popping up, with the turkey sea MOU hopefully we have more foreign investment

 

[Knaan99]

We could have been the way gateway of Africa for Middle Eastern investors, we could have coastal resort cities popping up, with the turkey sea MOU hopefully we have more foreign investment

This not a foreign investment. Is this to save Egypt’s crumbling economy, FX crunch and looming starvation.
They import most of their food. Let alone anything else.
They spend their reserve dollars on paying interest on their debt(One more reason to stay away from debt led growth if u a none western)
8-12 billion dollars FX shortage. This deal will inject a much needed dollars into the central bank.
but ofc UAE is not a charity. I bet they gave crazy long term concessions. Aka modern colonialism