BRICS TV has underscored the importance of the Ras El-Hikma development project on Egypt’s northwest coast as a key initiative in bolstering economic ties between Egypt and the United Arab Emirates (UAE).
In a report broadcast on Monday, it was revealed that the total investment in this ambitious project is expected to reach $110 billion by 2045. Egypt is anticipated to receive 35% of the overall profits, positioning the development as a significant economic boost for the country.
The Ras El-Hikma project is projected to generate approximately 750,000 direct and indirect jobs, with the city expected to house nearly two million residents, enhancing both employment and urban growth.
The project’s inauguration was attended by Egyptian President Abdel-Fattah El-Sisi and UAE President Mohamed bin Zayed Al Nahyan, alongside Egyptian Prime Minister Mostafa Madbouly and prominent business leaders from both countries. During the event, both leaders highlighted the project’s pivotal role in strengthening economic and investment relations between Egypt and the UAE.
