Qatar’s PM expresses keenness on boosting joint investments with Egypt

CAIRO – 8 December 2024: Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani said his country is keen on enhancing cooperation with Egypt and increasing mutual investments between both countries.

The Qatari prime minister made the remarks in a meeting with Egyptian Prime Minister Mostafa Madbouly on the sidelines of the 22nd edition of Doha Forum, Egypt’s Cabinet said in a statement on Sunday.

Madbouly stressed Cairo’s commitment to bolstering cooperation with Doha in various fields, especially with regard to Qatari investments in several sectors across Egypt.

The Egyptian prime minister underlined consensus between the political leaderships in both Egypt and Qatar on expanding the frameworks of cooperation between the two countries.

Madbouly said he is keen on leveraging communication between the two sides to realize the various proposals that they discussed during the coming period.

He affirmed the existence of many promising investment opportunities for cooperation between Egypt and Qatar.

 

Late in November, Madbouly stated that Egypt and Qatar will collaborate on a significant real estate investment project in the country's North Coast during a meeting with Sheikh Mohammed Al-Thani in Cairo.

Qatar’s Minister of Municipality Abdullah bin Hamad Al Attiya said during the meeting that the anticipated project will be of significant importance.

Further details about the specific nature and scale of the project are yet to be disclosed. However, the collaboration between the two countries is seen as a strategic move to capitalize on the growing potential of Egypt's North Coast as a prime destination for tourism and real estate development.

Egypt and Qatar have moved quickly in bolstering their relations, including political, economic and investment ties, after ending a more than three-year-long diplomatic rift in 2021.

In 2022, Egypt and Qatar agreed on a package of $5 billion in investments and partnerships in Egypt within “the framework of boosting economic cooperation.”