Qatar explores major investment opportunities in Egypt’s North Coast: Madbouly
Updated 11/28/2024 5:46:00 AM
Arab Finance: Qatar has expressed interest in reinforcing trade exchange as well as investment cooperation with Egypt, according to a statement.
This was discussed during a meeting between Egyptian Prime Minister Mostafa Madbouly and his Qatari counterpart Mohammed bin Abdulrahman bin Jassim Al Thani, highlighting ways of joint cooperation across various fields.
Madbouly said that the Qatari side is interested in investing in a significant real estate project on Egypt’s North Coast over the coming period, exploring investment opportunities in the tourism and hospitality sector in this area.
The Qatari interest follows the recent launch of the Ras El-Hikma project, a $35 billion investment on Egypt’s North Coast spearheaded by the UAE’s ADQ.
Madbouly also revealed plans to offer Qatar additional investment prospects, including real estate projects in Greater Cairo and the New Administrative Capital.
Moreover, he noted that the two parties tackled investment cooperation in the ports and logistics sector, as well as in the establishment of data centers.
In addition, Egyptian Minister of Industry and Transport Kamel El-Wazir has called on Qatar to deepen its investments in Egypt’s industrial sector, Asharq Business reported.
During discussions with Qatari officials, El-Wazir highlighted opportunities for Qatar to invest in existing factories, emphasizing the need for additional capital to boost efficiency and productivity.
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