CAIRO, Aug. 15 (Xinhua) -- The United Arab Emirates (UAE) investments in Egypt are estimated at 4.9 billion U.S. dollars, UAE Ambassador in Cairo Gomaa Mubarak al-Ganebi said on Tuesday.
The UAE ranked first on the list of top Arab investors in Egypt, al-Ganebi said during his inauguration of a factory of the Egyptian Company for Production of Vaccines "EGYVAC."
He said the factory is one of the vital projects set up in Egypt as it is the largest manufacturer of vaccines and sera in Africa and the Middle East.
The UAE, one of the Arabs main allies for Egypt, has pumped large funds in the country either in form of aids or investments since the ouster of the Islamist president Mohamed Morsi in 2013.
The volume of trade exchange between Egypt and the UAE reached about 3.45 billion dollars in 2016 compared to 2.6 billion dollars in 2016.
The number of the UAE companies operating in Egypt reached 877 against 819 in 2016, he added.
