On the sidelines of his participation on behalf of President Abdel Fattah El-Sisi, President of the Republic, in the activities of the twenty-second edition of the Doha Forum 2024, Dr. Mostafa Madbouly, Prime Minister, met today with a delegation of businessmen from the Qatar Chamber of Commerce and Industry, in the presence of His Excellency Sheikh Khalifa bin Jassim Al Thani, Chairman of the Board of Directors of the Qatar Chamber of Commerce and Industry, Rashid bin Hamad Al-Athba, Second Deputy Chairman of the Board of Directors of the Chamber, Abdul Rahman bin Abdul Jalil Al Abdul Ghani, Member of the Board of Directors, Chairman of the Real Estate Committee, and Mohammed bin Ahmed Al-Obaidli, Member of the Board of Directors, Chairman of the Food Security and Environment Committee, Engineer Ali bin Abdul Latif Al-Misnad, Member of the Board of Directors, Chairman of the Services Committee, Mohammed Bin Mahdi Al-Ahbabi, Member of the Board of Directors, Chairman of the Trade Committee, and His Excellency Sheikh Nayef bin Eid Al Thani, Chairman Board of Directors of Retaj Real Estate Company.
The meeting was also attended from the Egyptian side by Ambassador Amr El-Sherbiny, Ambassador of the Arab Republic of Egypt to the State of Qatar, and Major General Nasser Fawzi, Director of the National Center for State Land Use Planning.
At the beginning of the meeting, Dr. Mostafa Madbouly confirmed that he had been honored before this meeting to be received by Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, where he conveyed the Emir’s personal message from President Abdel Fattah El-Sisi, President of the Republic, during which he stressed Egypt’s pride in the depth of relations. The common relationship between it and Qatar, and the aspiration to push these relations towards greater horizons during the next stage.
He added that his meeting with the Emir of the State of Qatar was one of the topics of joint investments between the two countries, at the level of the two governments, the private sector, and the Qatari and Egyptian business community, especially through the Qatar Chamber of Commerce and Industry, and an emphasis on opportunities to advance joint investments in the targeted sectors.
The Prime Minister reviewed a number of policies and measures taken by the Egyptian state in the field of enhancing the investment climate, stressing that Egypt has come a long way towards creating opportunities in order to open horizons to attract more investments, especially from Arab countries, by simplifying procedures and solving and overcoming investors’ problems. Egypt is also currently working on implementing an ambitious program in cooperation with the International Monetary Fund according to goals, the most important of which is improving the indicators of the national economy and strengthening its capabilities.
Dr. Mostafa Madbouly pointed out that, over the past two years, the Egyptian government began issuing the “golden license” for investment projects, which represents an incentive to facilitate investors’ procedures, by limiting themselves to one approval without resorting to issuing any other licenses, which enabled speedy implementation. Projects, and presented examples of major companies that obtained the golden license and were able to establish and open the project in less than a year, including Haier, Beko, Bosch, and others.
The Prime Minister also referred to a number of incentives approved by Egypt during the recent period, as well as facilitations, pointing out in this regard that a document had been signed regarding the elimination of double taxation with Qatar, which will enter into force early next January.
Dr. Mustafa Madbouly confirmed that a number of investment opportunities have been prepared in preparation for presenting them to Qatari investors, in a number of sectors. Including industry, real estate investment, tourism development, and food security, reviewing some of these opportunities.
The Prime Minister pointed out that any brotherly investor in Qatar who wishes to invest in Egypt will be interviewed and the necessary facilities will be provided to him.
For his part, His Excellency Sheikh Khalifa bin Jassim Al Thani, Chairman of the Board of Directors of the Qatar Chamber of Commerce and Industry, welcomed the Prime Minister and his accompanying delegation to their second country, Qatar, stressing that Egypt is an important country for Qatari businessmen and investors.
The Chairman of the Chamber’s Board of Directors added that Qatari businessmen have previous investments in Egypt, in a large number of sectors, reviewing a number of investment opportunities, pointing out that the return on investment in Egypt is positive. He also indicated that it is planned to establish with a number of… Members of the Qatar Chamber of Commerce and Industry will visit Egypt soon, to hold meetings with representatives of official authorities, as well as the private sector, to discuss possible investment opportunities.
Dr. Mustafa Madbouly moderated a dialogue with the Qatari investors attending, about several files related to the field of investment, and what the state is targeting during this stage. He also answered a number of inquiries regarding the “golden license” and investment partnerships.
During the meeting, Qatari investors expressed their aspiration to invest in the Egyptian market in a number of sectors, most notably the agricultural sector and food security in general, as well as those related to logistical services and port management, and several other sectors. In this context, Qatari investors pointed to the importance of cooperation between the sectors. Special projects in the two countries to implement projects in different countries, especially on the African continent.
The Prime Minister expressed his agreement with this proposal, stressing that the government encourages this approach, which contributes to strengthening the partnership between the private sector in the two countries, to implement projects in foreign markets, which enjoy promising opportunities and great returns.
