On the sidelines of the Doha Forum 2024, Qatar and Egypt forge stronger economic ties with promising investment prospects.
Egypt’s Prime Minister Mostafa Madbouly met with the Qatar Businessmen Association (QBA) to discuss and enhance economic cooperation, promising investment opportunities, and the role of reforms like the Golden License to facilitate bilateral projects.
The meeting was attended by Hussein Ibrahim Al-Fardan, First Vice Chairperson, Amr Al-Sherbiny, Egypt’s Ambassador to Qatar, and Nasser Fawzy, Director of the National Center for State Land Use Planning, in Doha.
The meeting took place on the sidelines of the 22nd edition of Doha Forum 2024.
During the meeting, Madbouly referred to his recent discussions with Qatar’s Amir Sheikh Tamim bin Hamad Al Thani and Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani.
These interactions underscored the two nations’ shared commitment to enhancing bilateral relations, with Madbouly describing the current state of Qatari-Egyptian ties as the strongest in recent years.
According to a statement by the State Information Service (SIS), he expressed optimism about increased cooperation, particularly in economic areas, and outlined Egypt’s economic reforms as part of efforts to attract foreign investment, including adjustments to the exchange rate, tax reforms, and the introduction of the Golden License, which facilitates streamlined approvals for investment projects.
Madbouly highlighted promising opportunities in sectors of mutual interest, including real estate, food security, and tourism.
Specific investment opportunities were identified along Egypt’s North Coast, the Nile River, Cairo, the New Administrative Capital, and other urban developments.
These projects, supported by the Golden License programme, are expected to expedite investor participation.
Additionally, Madbouly drew attention to the expertise of Egyptian construction companies, particularly their success in African markets, proposing potential Qatari-Egyptian partnerships across these regions.
The Qatari delegation expressed a strong sense of optimism about investing in Egypt, praising the government’s reform initiatives and its conducive economic climate.
Members of the delegation highlighted their positive interactions with Egyptian officials, including President Abdel Fattah al-Sisi, and noted their interest in opportunities facilitated by Egypt’s ongoing urban development and modern infrastructure.
They also referenced their ongoing engagement with the General Authority for Investment and Free Zones (GAFI), lauding its effectiveness and efficiency in supporting investment efforts.
They recognised the strategic advantages of Egypt’s reforms and its investor-friendly policies, emphasising their commitment to exploring proposed opportunities further.
The Qatari representatives also voiced interest in potential partnerships extending into African markets, suggesting that Egyptian-Qatari collaboration could prove mutually beneficial in these regions.
