Qatar Chamber, Egypt Investment Authority review investment opportunities

06-02-2024

Qatar Chamber First Vice-Chairman, HE Mohamed bin Ahmed bin Twar Al Kuwari met on Tuesday, February 6, with HE Ahmed Abdulhamid, Vice President of the General Authority for Investment and Free Zones in Egypt, at the Chamber’s venue.

The meeting focused on reviewing the enhancement of economic and commercial relations between Qatar and Egypt, discussing the investment climate and opportunities in both countries, and exploring ways to stimulate Qatari investors to expand their investments in Egypt.

In his remarks, HE Mohamed bin Twar said that Qatar and Egypt have enjoyed positive and evolving relations, emphasizing the mutual desire to further enhance these relations to encompass broader horizons. He highlighted the promising nature of the Egyptian market, which offers abundant opportunities that are attractive to Qatari investors. His Excellency also affirmed the favourable reputation enjoyed by investments in Egypt.

Twar emphasized that Qatar Chamber warmly welcomes the cooperation between the Qatari private sector and its Egyptian counterpart, highlighting the eagerness of Qatari investors to invest in Egypt. He also reiterated that the Chamber actively encourages Qatari businessmen to explore the abundant opportunities available in Egypt. Twar praised the significant advancements Egypt has made in its infrastructure and investment-related laws and legislation.

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HE called on Egyptian companies and investors to consider investing in Qatar, highlighting the country’s world-class infrastructure, attractive investment climate, leading legislation, and promising opportunities across various sectors.

For his part, HE Ahmed Abdulhameed, Vice President of the Egyptian General Authority for Investment and Free Zones, praised the relations between both countries, emphasizing a strong desire to promote cooperation and partnerships with the Qatari side. He also expressed a commitment to streamlining all obstacles facing Qatari investments.

 

Regarding Egypt’s investment climate, HE said that Egypt is one of the most attractive destinations for investments and is considered a large market. He noted that Egypt has implemented a host of reforms on legislation and laws relating to investment to provide more incentives and facilities for foreign investors. HE emphasized that the Qatari investor is welcomed in Egypt and highlighted the presence of plenty of successful Qatari investments across various sectors in the country.

He reviewed numerous opportunities available in sectors such as industry, agriculture, tourism, healthcare, education, hospitality, green energy, food processing, automobiles, pharmaceuticals, ports, and others. HE stressed that the door is open for Qatari investments, especially considering Egypt’s advanced infrastructure, distinct legislation, easy procedures, and export capabilities.

Abdelhamid noted that the General Authority for Investment and Free Zones in Egypt serves as the gateway for investment in Egypt, emphasizing that its mandate is to provide all opportunities for investors interested in investing in Egypt, aiming to achieve a successful investment experience.

He highlighted that many international companies are expanding their industries and investments in Egypt, including those from Japan, China, Germany, Turkey, USA, and others. HE noted that Egypt has become a hub for various industries, including automobiles, home appliances, electronics, and textiles and others.

He also assured that his country is expanding the establishment of free zones, noting that it currently owns 9 zones.

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