Qatar Businessmen Association expresses readiness to invest in Egypt
Egypt’s Prime Minister Mostafa Madbouly met Sunday with a delegation from the Qatar Businessmen Association (QBA). It was led by Hussein Ibrahim Al-Fardan, First Vice Chairperson of the QBA, along with Amr Al-Sherbiny, Egypt’s Ambassador to Qatar, and Nasser Fawzy, Director of the National Center for State Land Use Planning.
Welcoming the Qatari delegation, Madbouly emphasized the importance of the meeting, held on the sidelines of his participation in the 22nd Doha Forum 2024.
Madbouly referenced his recent meeting with Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, and his earlier discussions today with Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s Prime Minister and Foreign Minister. These talks reinforced the shared commitment to strengthening Egyptian-Qatari relations, which have recently witnessed significant progress, benefiting both nations.
The Prime Minister described current Egyptian-Qatari relations as being at their best, predicting increased cooperation and coordination across various fields. He noted Egypt’s efforts to enhance economic ties and attract foreign investment through streamlined procedures and an improved investment climate.
Madbouly acknowledged Qatari businessmen’s interest in sectors such as real estate, food security, and tourism, among others. He outlined several ready-to-execute investment opportunities to be discussed during the meeting.
He highlighted Egypt’s recent economic reforms, including adjustments to the exchange rate, the introduction of the “Golden License” for expedited project approvals, and significant tax reforms, alongside other incentives aimed at fostering investment.
The Prime Minister presented tourism investment opportunities, including projects along the North Coast, the Nile River, and in Cairo, as well as in the New Administrative Capital and other cities. He assured potential investors that projects in these areas would benefit from the Golden License, expediting implementation.
Madbouly also pointed to the expertise of Egyptian construction companies, particularly their successful operations in African countries, proposing potential partnerships between Egyptian and Qatari firms to invest in these markets.
He concluded by providing the delegation with a detailed list of investment opportunities for further study.
The Qatari delegation expressed optimism about investing in Egypt, praising their interactions with President Abdel Fattah al-Sisi and previous meetings with Madbouly. “We are impressed by the Egyptian government’s ability to attract investments and see Egypt as a promising investment destination with a conducive environment,” they said.
The delegation commended Egypt’s current urban development boom and advanced infrastructure, which they said create a favorable investment climate. They also welcomed the possibility of partnering with Egyptian companies in various countries, including Africa, and expressed keen interest in studying the proposed opportunities.
The QBA members highlighted their repeated visits to Egypt, particularly to the General Authority for Investment and Free Zones (GAFI). They praised GAFI’s services, calling it one of the best investment authorities in the Arab world, and reaffirmed their commitment to capitalizing on Egypt’s opportunities.
The delegation lauded the Golden License initiative for its role in simplifying procedures for investors, stating, “It’s now our turn as investors to leverage these opportunities and enhance collaboration through joint investments.”
They also acknowledged the significant progress Egypt has made in attracting investments, making it easier to establish diverse projects.
The post Qatar Businessmen Association expresses readiness to invest in Egypt appeared first on Dailynewsegypt.