Several partnerships between international, Egyptian, and Emirati firms were announced
Egyptian President Abdel Fattah El-Sisi and UAE President Mohammed bin Zayed Al Nahyan have witnessed the launch of the Ras El-Hekma development project on Egypt's northwest coast, marking a pivotal milestone in the expansion of economic collaboration between the two nations. This is reported by Daily News Egypt, a partner of TV BRICS.
With US$110 billion in investment allocated for the Ras El-Hekma city's development, Egypt is set to benefit from 35 per cent of the profits generated by the project. The launch event, attended by Egyptian Prime Minister Mostafa Madbouly and key business leaders from both countries, officially kicked off this initiative, which aims to transform the region into a significant urban hub.
During the ceremony, the presidents were presented with a comprehensive overview of the project's objectives, components, and its far-reaching economic, investment, real estate, tourism, and environmental impacts. Discussions also centred on the unique advantages of the region, the integrated services offered by the project, and the opportunities it represents for both development and economic growth.
A major highlight of the event was the signing of contracts between Egyptian and Emirati companies to initiate the project's construction phase. Both presidents extended their gratitude to the teams and individuals involved in the project's planning, highlighting it as a shining example of an effective partnership for growth between Egypt and the UAE. They also stressed the role the project will play in further bolstering economic and investment relations between the two countries.
Moreover, several partnerships between international, Egyptian, and Emirati firms were announced to drive innovation in electric vehicle technology within the Middle East and North Africa region, further solidifying the commitment to a sustainable future.
Photo: iStock
-
![]()
Society16.08.26BRICS News Digest for the previous week -
![]()
Society16.08.26Chinese scientists uncover ancient reptile built for life in water -
![]()
Society13.08.26Moscow to host India Day festival -
![]()
Society12.08.26Argentina’s provinces strengthen their presence in BRICS media landscape -
![]()
Society11.08.26Energy specialists from Latin America learn about development of Russia’s nuclear industry -
![]()
Society11.08.26Geological Survey describes earthquake in Colombia as strongest in decade
-
![Sergey Lavrov]()
Sergey LavrovRussian Foreign Minister"A Joint Statement of the Foreign Ministers has been adopted. It provides a clear and principled assessment of the situation on the international stage and outlines the tasks that will be addressed in accordance with previous decisions by heads of state and governments. No one doubts that additional documents on sectoral areas of cooperation will be developed ahead of the SCO summit in Bishkek. Energy, artificial intelligence, healthcare and a number of other areas were also mentioned" -
![Nitin Gadkari]()
Nitin GadkariIndia's Union Minister for Road Transport and Highways"Our resolution has just been passed. It is very important as far as the BRICS countries are concerned, which cover 40 per cent of the world's population. We are committed to the futuristic development of the transport sector, to create cooperation, coordination and communication between the stakeholders. This resolution indicates a lot of new technology and innovation in the transport sector. It covers the road sector, railways, aviation and water transport" -
![Anutin Charnvirakul]()
Anutin CharnvirakulPrime Minister of Thailand"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"
