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Egypt, Qatar seek to launch mutual investment fund
(MENAFN) Egypt and Qatar are seeking for prospects to launch a mutual investment fund, in line with Egypt’s Minister of Planning Hala El-Said.
El-Said’s address came on the offshoots of Egyptian Prime Mostafa Madbouly’s official trip to Qatar to boost two-sided partnership in many industries.
Egypt’s USD400 billion economy is under raising pressure from the blows triggered by Russia’s attack on Ukraine, which has pressured food and fuel price going off the chart.
It need to be also pointed out that Egypt is the biggest importer of wheat across the whole world, and the current war in Ukraine has massively affected the nation’s economic steadiness.
For Egypt, procuring finance from Gulf countries is needed. The International Monetary Fund, last month, asserted that assistance from Gulf countries is needed for Egypt to end the financing gap of around USD17 billion in the upcoming few years.
In the meantime, Qatar is also seeking to surge its funds in Egypt, as the two nations inked a deal to eliminate double taxation intended at increasing funds.
El-Said’s address came on the offshoots of Egyptian Prime Mostafa Madbouly’s official trip to Qatar to boost two-sided partnership in many industries.
Egypt’s USD400 billion economy is under raising pressure from the blows triggered by Russia’s attack on Ukraine, which has pressured food and fuel price going off the chart.
It need to be also pointed out that Egypt is the biggest importer of wheat across the whole world, and the current war in Ukraine has massively affected the nation’s economic steadiness.
For Egypt, procuring finance from Gulf countries is needed. The International Monetary Fund, last month, asserted that assistance from Gulf countries is needed for Egypt to end the financing gap of around USD17 billion in the upcoming few years.
In the meantime, Qatar is also seeking to surge its funds in Egypt, as the two nations inked a deal to eliminate double taxation intended at increasing funds.
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