Media minister says Jordan-UAE-Egypt industrial initiative ‘historical’

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Ammon News – Jordan State Minister for Media Affairs Faisal Shboul Wednesday said the Jordan-UAE-Egypt Integrated Industrial Partnership is a “historical” initiative of His Majesty King Abdullah, Egypt President Abdel Fattah al-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan.

Shboul told Petra that this initiative, signed in Abu Dhabi, is a “historical” step for the common interests of the three countries and the interest, noting the main advantage of the initiative’s success: the presence of a real political will that supports its success, capable human capital, raw material and capital through an investment fund for the “Holding” company (ADQ), in addition to the existence of feasible and appropriate projects.

He highlighted the circumstances and crises that make the establishment of such cooperation initiative important, including the COVID-19 pandemic and the fallout of the Ukraine crisis, which affected supply chains, food and drug security in the world. He added that the war in Ukraine led to high energy costs.

Shboul said that the implementation of the initiative will be on several levels, short -, medium- and long-term, adding that the short-term implementation will focus on establishing food and drug security, specifically in the areas of basic crop production and animal products.

Shboul added that the three parties welcomed the participation of the private sector and urged businessmen and investors in the three countries to explore the investment opportunities the three economies offer.