Egypt's Deputy PM Urges Qatar Businessmen To Invest In Industrial Sector

Doha: Deputy Prime Minister for Industrial Development and Minister of transport and industry of Egypt, Lt. Gen. Engineer Kamel Al Wazir, invited Qatari businessmen to invest in Egypt, particularly in industrial sector. He pointed out that Egypt offers many incentives and facilitation measures for Qatar investors, including rapid allocation of industrial land and issuance of licenses on the same day.

This came during a meeting held on Sunday in Doha between Chairman of Qatar Chamber, HE sheikh Khalifa bin Jassim Al Thani, and Lt. Gen. Kamel El Wazir, in the presence of Chairman of Federation of Egyptian Industries (FEI), Engineer Mohamed Zaki El Sewedy, and HE Ambassador of Egypt to Qatar, Ambassador of Egypt to Qatar.

The meeting discussed the bilateral relations between the two countries, especially in the fields of trade and industry and means of enhancing them, and the engagement of the private sector in both Qatar and Egypt in promoting investments between the two sides.

Lt. Gen. Kamel El Wazir highlighted the presence of 23 investment opportunities in the Egyptian industrial sector, including industries that are needed in the Egyptian market and can also be exported to foreign markets. He emphasized that the Egyptian Ministry of Transport and Industry is ready to offer all necessary facilitation to Qatar investors.

On his part, Sheikh Khalifa bin Jassim Al-Thani praised the close friendly relations between the two countries, noting the continuous coordination between the Qatar Chamber and the Federation of Egyptian Chambers of Commerce to enhance cooperation in various economic sectors. He also emphasized strengthening ties between businessmen from both countries, which would contribute to boosting joint and mutual investments and consequently enhancing trade exchanges.

He affirmed the interest of Qatar businessmen in investing in Egypt, which has seen significant improvements in its investment climate and available opportunities, especially in industrial sector. He also mentioned the mutual desire of the private sectors in both countries to enhance cooperation.

HE Sheikh Khalifa bin Jassim Al Thani pointed out that trade between Qatar and Egypt grew by 38 percent last year, reaching approximately QR 746 million, compared to QR 540 million in 2023. He expressed confidence that in the coming years, bilateral trade will continue to increase, particularly with the growing role of the private sector in both countries' economies.

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