Qatari businessmen express interest in injecting more investments into Egypt

DOHA - 28 February 2023: Qatari businessmen voiced deep interest in injecting more investments into Egypt as well as swift establishment of the Egyptian-Qatari investment fund in the coming period.

 

The investors reviewed the projects they plan to implement in Egypt in various domains, especially in the fields of food industries, health, tourism and IT sectors.

 

This came during the premier's meeting on Tuesday with members of the Qatari Chamber and the Qatari Businessmen Association during his current visit to Doha.

 

Qatar Chamber Chairman Sheikh Khalifa bin Jassim al-Thani welcomed Madbouli and his accompanying delegation and stressed keenness on holding the get-together to review means of promoting cooperation among the Qatari and Egyptian private sectors in the fields of economy, trade and investment.

 

He voiced hope to boost bilateral investments in order to up trade exchange which has already witnessed a leap over the past years.

 

He said trade exchange between the two sides hit 350 million Qatari riyals in 2022 against 239 million riyals in 2021, marking a 46 percent rise.

 

He said these numbers do not meet aspirations of both countries, wishing the Egyptian and Qatari private sectors to boost bilateral trade.

 

He lauded the remarkable development of the Egyptian economy, especially in the infrastructure and development projects, noting that this incentivizes Qatari businessmen to inject investments into Egypt.

 

He expressed confidence that the coming period would witness more cooperation between businessmen of both sides.

 

Meanwhile, First Deputy Chairman of the Qatari Businessmen Association Hussain Ibrahim Al-Fardan welcomed Madbouli and his accompanying delegation, referring to the visits exchanged between President Abdel Fattah El Sisi and Qatari Emir Sheikh Tamim ibn Hamad Al Thani over the past year.

 

He said the Qatari Businessmen Association is interested in pumping investments into Egypt to contribute to building the new republic.

 

Qatari businessmen underlined the importance of inking non-double taxation agreement between Egypt and Qatar.

 

For his part, Trade and Industry Minister Ahmed Samir reviewed investment opportunities in the industrial sector.

 

Health Minister Khaled Abdel Ghaffar also highlighted investment opportunities in the health and medical domains.

 

Planning Minister Hala Saeed said efforts are underway to establish an Egyptian-Qatar investment fund, noting that the joint investment forum due to be held in Cairo represents an important chance for both sides.