Qatari Businesses Urged To Explore Investment Opportunities In Egypt

(MENAFN- Gulf Times) The Qatari Businessmen Association (QBA) held a business lunch Tuesday in honour of Dr Hala el-Saeed, Egypt's Minister of Planning and Economic Development.
El-Saeed discussed a number of joint co-operation topics and followed up on a number of previously signed agreements, especially after the successful visit of QBA to Egypt last year.
During the meeting, which was held in the presence of Egyptian ambassador Amr el-Sherbiny, el-Saeed also invited the Qatari business community to explore the potential investment opportunities in Egypt.
The meeting was attended by QBA Chairman HE Sheikh Faisal bin Qassim al-Thani; QBA board member Saud al-Mana, and QBA members Nasser Suleiman al-Haidar, Nabil Abu Issa, Maqbool Habib Khalfan, and Dr Mohamed Altaf, as well as Sheikh Turki bin Faisal al-Thani, in addition to QBA deputy general manager Sarah Abdullah.
The meeting was also joined by Qatari Businesswomen Association (QBWA) board members Awatif al-Dafa, Amal al-Athem, Natra Saeed, Mashael al-Ansari, and Hoda Habibi, as well as QBWA member Tahani Saqr; and executive director Jiskala Khalili.
Sheikh Faisal said bilateral relations between both countries are experiencing“positive levels of co-operation,” especially that the leadership of the two countries worked very hard to facilitate and improve investment opportunities.
He also underscored the success of QBA's last visit to Egypt, saying a number of major and vital projects related to tourism, healthcare, real estate, and industrial sectors were closely discussed.
El-Saeed presented Egypt's accomplishments in recent years in terms of large projects in infrastructure that attracts domestic and foreign private investment. She highlighted the launch of Egypt's National Programme for Structural Reforms, which aims to make the Egyptian economy more resilient in facing crises.
The minister also talked about the role of the government in various sectors as a regulator of economic activity according to market mechanisms while setting some incentives for the localisation of industries by focusing on green economy projects.
El-Saeed spoke about the Private Sector Participation Law, which was updated to eliminate obstacles, pointing out that the sovereign fund of Egypt is an important investment arm of the state and works as a partner for the private sector by studying investment opportunities and availing them to the private sector. She explained that the fund has a number of sub-funds that can partner with the Qatari private sector in several guaranteed projects.
The minister said there is a technical committee currently studying a number of projects that will be presented to the private sector in both Qatar and Egypt, noting the need for economic integration between the two countries, especially since Doha has many investment incentives, in addition to the remarkable legislative environment to attract Egyptian investors.
During the meeting, Qatari businessmen raised several points, such as the establishment of a special fund in which Qatari and Egyptian businessmen contribute and partner with the Egyptian sovereign fund, which can then participate in a number of vital and highly productive projects. The minister also confirmed that the currency price in the market is considered fair and its evaluation is correct as the state has taken upon itself all obligations with regard to imports.1`

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