QBA 'keen' to develop investment relations, explore investment opportunities with Egypt: Sheikh Faisal

      

 

 

 

Qatari Businessmen Association (QBA) is keen to develop investment relations and explore investment opportunities with Egypt in all fields, said its Chairman HE Sheikh Faisal bin Qassim al-Thani. He said this following the meeting of a delegation from the Qatari Businessmen Association in Cairo with the Egyptian Ministers of Planning and Trade, and officials in the trade and investment sectors.Sheikh Faisal said there is a “positive change” in the investment climate in Egypt highlighting “the various elements of attraction” for Qatari investors and areas for building investment alliances with Egyptian and foreign businessmen. He stressed the keenness of Qatar Businessmen Association to work with the Sovereign Fund of Egypt during the coming period.QBA chairman said there is a firm desire on the part of Qatari Businessmen to invest in the Egyptian market and strengthen the strategic partnership between the two brotherly countries, especially in light of the full support of the Egyptian state.He noted that the list of projects presented during the meeting had been approved by many companies, as they expressed their desire to study some of these projects and then take the decision to invest in the Egyptian market.QBA Board Member Sheikh Hamad bin Faisal al-Thani stressed the importance of permanent communication between the Egyptian and Qatari business community to benefit from the available opportunities not only in the field of industry, but in all other sectors.He said QBA would provide a link between Egyptian and Qatari businessmen for developing joint co-operation and exploration of investment opportunities available in both the countries.Egyptian Minister of Planning and Economic Development Dr Hala el-Said said the law on the Sovereign Fund of Egypt was enacted in accordance with the Egyptian circumstances and capabilities, as well as the state's interest in preserving the rights of future generations, while at the same time taking into account the flexibility needed by the investment sector.Sovereign Fund of Egypt CEO Ayman Soliman reviewed a number of projects implemented through the fund and in partnership with investment alliances, including the development of the Tahrir Complex and projects for the production of electric vehicles in the Suez Canal Economic Zone, as well as projects in the education sector, water desalination, the development of archaeological sites and the renewable energy sector. Egyptian Minister of Trade and Industry Ahmed Samir affirmed the Egypt’s keenness to develop joint economic, commercial and investment relationship with Qatar, benefiting both the countries. He highlighted the importance of strengthening joint efforts between governments and business communities of the two countries to maximise the benefit from their great economic potentials and translate them into tangible co-operation projects that achieve the aspirations of people in the two brotherly countries. Samir pointed out there are “promising export opportunities” for exporters and importers from both the countries to meet the needs of the Egyptian and Qatari markets, export to regional and global markets, and benefit from free and preferential trade agreements signed between Egypt and other countries and economic blocs. These allow Egyptian products access with preferential benefits for markets that exceed 2bn consumers.A co-operation protocol was also signed between the Qatari Business Association and the Federation of Egyptian Industries.