29 October 2022

Egyptian President Meets Qatari Businessmen Association Delegation

  • Egypt_Qatar

Cairo, October 29 (QNA) - HE President of the Arab Republic of Egypt Abdel Fattah El-Sisi met with a delegation from the Qatari Businessmen Association (QBA), headed by HE QBA Chairman Sheikh Faisal bin Qassim Al-Thani, and in the presence of HE Prime Minister of Egypt Dr. Mostafa Madbouly, on the sidelines of the First International Forum and Exhibition for Industry, which kicked off Saturday in Cairo.
HE the Egyptian President affirmed the state's keenness to continue direct interaction with investors and the business community, whose success represents support for the path that Egypt is pursuing toward comprehensive development and state building, expressing Egypt's readiness to take all procedures and facilities for the investment of Qatari businessmen in all fields. Also, the Egyptian President praised his recent visit to the State of Qatar, which he considered successful by all standards.
He pointed to the interest that Egypt attaches to stimulating investment and dealing with all the concerns facing Qatari businessmen, especially in light of the effective and influential contribution of the private sector and foreign investors to the gross domestic product, employment rates for manpower, and the administrative and organizational capabilities that they possess. In this context, he reviewed the reform and development facilities and measures adopted by the government to encourage and support serious investments and to overcome all obstacles facing the private sector, in addition to the state's steps in developing the infrastructure, especially in the ports and airports sector, the road network and the modern transport system as well as the huge development in the customs and tax systems, and the modernization of legal frameworks and systems.
The Egyptian president expressed his country's readiness to move forward with the visions and ideas proposed by Qatari businessmen and work for their success to serve the development of bilateral relations between the two countries.
The meeting witnessed an open dialogue between the Egyptian president and Qatari businessmen on the government's actions to advance the comprehensive development process in Egypt and the prospects for the economic situation, where the business community representatives praised Egypt's ambitious development plans and the strong will to achieve reform and growth in Egypt at an accelerated pace.
HE Prime Minister of Egypt Dr. Mostafa Madbouly pointed to President El-Sisi's continuous directives to the government to support and open horizons for Qatari investors in all fields, especially support and development of the industrial sector, work to increase the volume of exports, and provide more facilities and incentives to Qatari investors, whether concerning transportation, or the establishment of logistic warehouses in several industrial areas, including the 17 industrial complexes and four new cities that have been prepared. He said that steps have been taken in this regard, stressing the role of Arab and foreign investors, especially Qataris, in reaching the set goal of USD100 billion in exports within five years. Also, the Egyptian Prime Minister stressed that the relationship between the two countries is constantly growing and moving forward for the better.
HE QBA Chairman Sheikh Faisal bin Qassim Al-Thani underscored that Qatar and Egypt have historical relations, and Qatari investments in Egypt go back more than 50 years. He indicated that under the directives of HH the Amir Sheikh Tamim bin Hamad Al-Thani, QBA is working to strengthen the strong relations between the two countries at the economic and commercial level, in light of the consensus between the two wise leaderships.
QBA Chairman praised Egypt's economic renaissance and the mega projects such as the new administrative capital, ports and road networks, and the facilities provided by the Egyptian government to foreign investors, pointing out that Egypt has a large capacity of young people and a trained workforce. He added that there is seriousness on the part of Qatari businessmen to discuss real investment opportunities in Egypt, in addition to ongoing negotiations for investments in various sectors.
He pointed out that there are several sectors that Egypt will give priority in the coming period, such as the agricultural sector, food industries, communications, information technology, pharmaceutical industries, and electronic industries, which businessmen are also discussing.
HE QBA board member Sheikh Hamad bin Faisal Al-Thani praised the bilateral relations between the two brotherly countries, stressing that successive visits between officials of the two countries will strengthen the strong relations and pave the way for new investments for the private sector in Egypt, especially as it is the largest Arab market. Also, he welcomed Egyptian investors wishing to invest in Qatar, which offers great advantages to foreign investors.
Also, he stressed Qatar's keenness during the coming period to develop economic and trade cooperation relations with the Egyptian business community and companies and to develop joint investments to contribute to supporting the economic development process in the two brotherly countries.
HE QBA board member Sheikh Nawaf bin Nasser Al-Thani praised the bilateral relations between the State of Qatar and the Arab Republic of Egypt, praising the economic renaissance that Egypt is currently experiencing. (QNA)


Economy, Qatar
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