Industry & Trade
$5.5 billion total UAE investments in Egypt
Published 2015-08-04 14:35:13| Hesham Ibrahim
UAE Investments in Egypt are worth US$5,8 billion, according to the latest report released by the Egyptian Commercial Office in Abu Dhabi. The report showed that there are 717 Emirati companies working in Egypt. Meanwhile, the volume of trade exchange between Egypt and UAE has surged 17 percent in 2014 to US$2,142 billion versus US$1,828 billion in 2013. In 2014, the Egyptian exports to UAE increased on an unprecedented scale to US$827 million, compared to US$608,5 million in 2013, marking a 35.9 percent surge. The Egyptian exports to the Emirati market during 2014 encompassed agricultural goods (34 percent), gemstones and precious metals (19 percent), essential oils (6.4 percent), metal products (3.5 percent), textile (3.1 percent), building materials (2.3 percent), and furniture (2 percent). Moreover, the UAE exports to Egypt climbed 17 percent in 2014 to US$1,700 billion, the report revealed.
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The price of Internet services per subscription in Egypt increased over the first quarter (Q1) of 2015, amounting to $10.1. This compared to $6.4 over the same period the previous year, according to a report by the Ministry of Communications and Information Technology. On the other hand, the price of mobile phone services decreased during the same period, amounting to $2.8 instead of $3. As per the ministry’s report for Q1 of 2015, the usage costs for landline phone services decreased, recording $2.3, compared to $3.4 over the same period last year. The cost of Internet usage is calculated in accordance with the monthly subscription of the lowest speed of ADSL Internet, a minimum of 256 KB which is equivalent to the usage of 1 GB. Regarding the calculation of average mobile phone usage costs, it depended on pre-paid amounts for 30 calls and 100 text messages every month in every mobile network during peak and non-peaks time and over weekends. In terms of landline usage costs, it is calculated according to one-fifth of the installation expenses, monthly subscription, 15 local calls during peak hours and another 15 calls during non-peak hours.
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