The Egyptian government announced a US$35 billion investment agreement with UAE's ADQ on 23 February 2024 covering the Ras El Hekma north-coast development project. The largest single FDI transaction in Egyptian history; stabilised the EGP currency crisis and triggered IMF programme expansion. Mover-relevant indirectly: accelerated infrastructure development in the north-coast region and broader economic-reform momentum.
Broad macroeconomic context; foreign direct investment influx.
Primary: State Information Service ↗
Corroborating: Central Bank of Egypt ↗
Verified 2026-04-19 · methodology · report a correction