A transportation company based in Qatar has shown interest in overseeing and running the Bus Rapid Transit (BRT) project on the Cairo Ring Road.
Qatar’s Minister of Transport Jassim bin Saif Al-Sulaiti held a meeting with his Egyptian counterpart Kamel El Wazir last week, reviewing the latest development in relations between the two nations.
The meeting, held in Cairo, was focused on exploring mutual avenues of cooperation within the transport sector, Egypt Today reported.
As an integral part of this bilateral cooperation, a prominent urban transport company based in Qatar expressed its interest in managing and operating the Cairo Ring Road Bus Rapid Transit (BRT) system.
The identification of the Gulf-based enterprise remains undisclosed at this time.
The BRT system stands as a significant pillar of Egypt’s ongoing commitment to sustainable mass transit initiatives.
Its implementation is deemed a considerable leap towards environmentally-friendly transportation and enhanced mobility for Egypt’s population.
One of the key issues discussed during the ministerial exchange was the recent Memorandum of Understanding (MoU) signed between the Egyptian Ministry of Transport and Maha Capital, a division of the Qatar Investment Authority.
The MoU reflects the progressive strides in the investment realm shared by the two nations.
Earlier this month, the Egyptian Cabinet agreed between to aim at eradicating double taxation on income taxes between them and the Gulf state.
The pact, which aims to prevent tax evasion and avoidance, signals a promising future for fiscal transparency and cooperation between both nations.
The approved agreement is designed to do away with double taxation that applies to residents in either or both of the countries.
It further extends its coverage to collective investment vehicles established in either Egypt or Qatar that garner income originating from the other nation.
This move marks yet another milestone in the ongoing efforts to solidify bilateral and economic ties, paving the way for enhanced mutual growth.