Egypt and UAE: After the neighboring country Pakistan, another Muslim country is in a state of poverty. The economy here has become dilapidated. This Muslim country has been forced to sell a very beautiful place of its country to the United Arab Emirates i.e. UAE. This Muslim country is going to hand over the entire city to UAE investors. Know the name of the city which he is going to sell in poor condition, why it is so beautiful and for how much money it is being sold to UAE.
According to the information, the ancient country Egypt is going to give its town Ras Al Hikma located in the Mediterranean Sea to UAE for about 22 billion dollars. This town is known for its beautiful beaches and that is why it is called ‘Heaven on Earth’. Protests have started across the country against this decision of Egyptian President Abdel Fateh Al Sisi. Egypt, which is facing a serious economic crisis, is in dire need of foreign currency. For this reason, he is going to hand over his very important town to UAE investors. This deal has been confirmed by an Egyptian official.
The town of ‘Ras Al Hikma’ is located on the northwest coast of Egypt.
The Egyptian official said that UAE investors will buy this very special town Ras Al Hikma, which is located on the northwest coast of Egypt in the Mediterranean Sea. Even before this, an attempt was made to sell this town, when it was criticized a lot. Critics say that after this deal Egypt will lose control over its most beautiful coastal town. Egypt’s economic condition is so bad that the value of its currency is half that of the US dollar in the black market.
Egyptian President facing opposition
On Thursday, an IMF team completed its two-week visit and held talks regarding a possible bailout package. It is believed that this package can reach up to 10 billion dollars. Hossam Heiba, an Egyptian official, said that developing Ras Al Hakima could cost $22 billion. UAE investors will finance, develop and manage the project. This step of the Egyptian government is being strongly criticized.
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