Qatar to invest billions in Egypt

Countries strengthened economic ties with multiple agreements at recent investment forum
Qatar to invest billions in Egypt
Part of the Egyptian-Qatari Economic Investment Forum. (Photo Credit: QNA)

During the Egyptian-Qatari Economic Investment Forum, Qatar and Egypt forged closer ties by signing numerous agreements and memoranda of understanding in key sectors such as real estate, food, and automotive industries.

Mohammed bin Hamad bin Qassim Al Thani, Qatari minister of commerce and industry, expressed the country’s commitment to strengthening bilateral cooperation and fostering closer relations with Egypt. During the economic summit.

Read more: Qatar could own up to 30 percent in 7 historic Egypt hotels as ties strengthen

At the forum held in Egypt, the Minister highlighted Qatar’s interest in exploring investment opportunities in Egypt, aiming to promote prosperity and mutual benefits between the two nations.

Qatar has emerged as one of Egypt’s major investors, with investments amounting to $5.5 billion across various sectors, particularly in finance and real estate. The successful hosting of the 2022 Qatar World Cup has further bolstered Qatar’s non-oil economic sector, positioning it as a global leader in attracting foreign investment, as recognized by Standard & Poor’s Global.

The Minister emphasized the signing of multiple agreements with Egyptian companies, spanning key economic sectors such as industry, trade, and labor. He noted that the economic summit represents a valuable opportunity for Egyptian and Qatari companies to establish economic alliances and foster investment, thereby enhancing trade prospects between the two countries.

For his part, Ahmed Samir, Egypt’s minister of commerce and industry, affirmed the Egyptian government’s commitment to supporting Qatari companies investing in the Egypt’s market. He highlighted ongoing efforts to overcome obstacles and provide necessary assistance to encourage the expansion of existing investments and attract new investments from Qatar in the near future.

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