07 February 2023

Egyptian Planning Minister Invites Qatari Businessmen to Explore Investment Opportunities in Egypt

  • Egypt

Doha, February 07 (QNA) - HE Egyptian Minister of Planning and Economic Development Dr Hala Al Saeed invited Qatari businessmen to explore the potential investment opportunities in Egypt. She also discussed today with the Qatari Businessmen Association (QBA) a number of joint cooperation topics and followed up on a number of agreements signed during the last period.

At a meeting with HE QBA Chairman Sheikh Faisal bin Qassim Al-Thani, the Egyptian Minister of Planning and Economic Development reviewed what her country has accomplished in recent years in terms of large investments in the infrastructure that attracts domestic and foreign private investment, highlighting Egypt's launch of the National Program for Structural Reforms, which is based on several axes, and aims at making the Egyptian economy more capable of Resilience in facing crises.

She also talked about the role of the government in various sectors as a regulator of economic activity according to market mechanisms, while setting some incentives for the localization of industries, by focusing on green economy projects.

The Egyptian minister also spoke about the private sector participation law, which was updated to eliminate some obstacles, pointing out that the Sovereign Fund of Egypt is an important investment arm of the state, as it works as a partner for the private sector, by studying investment opportunities and availing them to the private sector, explaining that the fund has a number of Sub-funds that can partner with the Qatari private sector in several guaranteed projects.

The minister also indicated that there is a technical committee currently studying a number of projects that will be presented to the private sector in both Qatar and Egypt, noting the need for economic integration between the two countries, especially since Doha has many investment incentives in addition to the remarkable legislative environment to attract Egyptian investors.

The Egyptian minister also confirmed that the currency price in the market is considered fair and its evaluation is correct, as the state has taken upon itself all obligations with regard to imports.

During the meeting, HE Sheikh Faisal bin Qassim Al-Thani stressed out the success of QBA's last visit to Egypt, in which a number of major and vital projects related to tourism, healthcare, real estate and industrial sectors, were closely discussed.

During the meeting, Qatari businessmen raised several points, the most important of which is the establishment of a special fund in which Qatari and Egyptian businessmen contribute and partner with the Egyptian sovereign fund which can then participate in a number of vital and highly productive projects. (QNA)


Economy, Qatar
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