Recently a plan was approved by the Council of Ministers to attract United Arab Emirates (UAE) investment to Egypt.

It also decided to form committees which were started by Minister of Trade and Industry Rachid Mohamed Rachid. This was done to meet with UAE representatives every three months so as to talk about investment opportunities in energy, real land, transport, and infrastructure.

On Sunday Rachid alleged that a UAE assignment is at present visiting Cairo. He will go after President Hosni Mubarak's prior visit to the UAE.

He said that they agreed that five UAE companies would begin commerce through the Egypt-UAE investment funds.

Egyptian Transport Minister, Alaa Fahmy declared that mutually private and public sectors would take part in the investment projects. This contribution would be offered on a usufruct basis.

Fahmy added that there will be addition of the extra investment opportunities by them for inter-Arab sea transport projects at the conference of Arab Ministers of Transportation on 11 January.

It was stated by the UAE Economy Minister Sultan Bin Saeed Al-Mansouri that a US$50 million loan will be awarded by the Abu Dhabi Fund to the Egyptian Ministry of Electricity.