Doha: Qatar's Minister of Commerce and Industry, Faisal bin Thani bin Faisal Al Thani, along with Minister of State for Foreign Trade Ahmed bin Mohammed Al-Sayed, hosted a meeting with Walid El-Fekky, the Egyptian Ambassador to Qatar, and Hossam Negm, Head of the Egyptian Commercial Service in Doha, at the ministry headquarters. The discussions aimed to strengthen economic cooperation and review the progress of Qatari investments in Egypt.
According to State Information Service Egypt, the meeting focused on the latest developments in investment cooperation between Qatar and Egypt. Notably, there has been significant growth in Qatari investments in the Egyptian market, particularly in the tourism and urban development sectors. A major highlight was the investment by Diar Qatar, in partnership with the Egyptian government, amounting to $29.7 billion for the creation of a fully integrated tourist city in Alamein Rom, east of Marsa Matrouh.
The upcoming visit of the Qatari Minister of State for Foreign Trade to Cairo was also discussed, which aims to explore various avenues of bilateral cooperation and establish a comprehensive economic partnership between the two nations. Both sides emphasized the reassurances from Egypt's President and Prime Minister to the Qatari business community during recent visits to Doha, confirming there are no restrictions on profit repatriation and foreign currency transfers, thus ensuring flexibility for investors.
Additionally, the meeting underscored the Egyptian government's reforms and efforts over recent years to enhance the investment climate and attract more foreign investments. Abdel Aziz Al-Sharif, First Undersecretary of the Ministry and Head of the ECS, highlighted that existing Qatari investments in Egypt, as of February 27, 2025, totaled $5.4 billion, spanning sectors like industrial, service, financial, tourism, construction, agricultural, and ICT, with 343 Qatari companies operating in Egypt.
Al-Sharif pointed out that these investments are expected to grow, particularly with new opportunities in tourism, hotels, sustainable fuel production, and agricultural development. The comprehensive economic partnership is anticipated to boost trade, with the trade volume between the two countries reaching approximately $129 million by 2024.