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Qatari investors are keen to speed up the establishment of a joint Qatar-Egypt investment fund, officials from Qatar Chamber and Qatari Businessmen Association conveyed to the Egyptian Prime Minister Mostafa Madbouly during an interaction last month.
Sheikh Khalifa bin Jassim Al Thani, Chairman of Qatar Chamber pointed out that trade between the two countries grew 46 percent year-on-year to touch 350 million Qatari riyals in 2022, compared to QAR 239 million in 2021.
He said Qatari businesses are looking at Egypt’s agriculture, industry, real estate, and hospitality sectors for investment opportunities.
Hussein Al-Fardan, Vice Chairman of the Qatari Businessmen Association, invited the Egyptian business community to take advantage of opportunities in the Gulf country’s industry, tourism, health, and education sectors as well as incentives such as investment law, free zones, Hamad Port, and single window.
“We, in the Qatari Businessmen Association, are fully prepared to partner with the Egyptian private sector in a way that contributes to strengthening the economy of our two countries,” he said.
In response to calls by Qatari business representatives for double-taxation avoidance agreement between the two countries, Mohamed Maait, Minister of Finance, pointed out that the Ministry is in negotiations to sign an agreement on customs.
Qatari businessmen also outlined projects they wished to establish in Egypt, with one investor noting that he is looking forward to starting the construction of his hotel projects in Egypt soon.
(Writing by Eman Hamed; Editing by Anoop Menon)
