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Qatar commits $1.5 billion investment in Egypt’s industrial sector

Qatar commits $1.5 billion investment in Egypt’s industrial sector

Qatar's commitment to invest around $1.5 billion in Egypt's industrial sector in 2024. This investment comes following an agreement between Qatar and Egypt in March 2022, outlining investments and partnerships totaling nearly $5 billion.

The Head of the Egyptian Commercial Service, Yahya Al-Wathiq Billah, highlighted a 47% increase in trade volume between the two countries in 2022, although specific figures were not provided.

The Qatar Egypt Investment Forum, inaugurated by Egypt's Minister of Trade and Industry Ahmed Samir, played a significant role in fostering economic cooperation and exploring investment opportunities between Qatar and Egypt.

Qatar's Minister of Commerce and Industry, Mohammed bin Hamad bin Qassim, reaffirmed Qatar's commitment to Egypt's economic growth, citing previous investments of over $5.5 billion in Egypt's financial, real estate, and energy sectors.

Additionally, Saud Omar Al Mana, the CEO of the Qatari Al Mana Group, announced plans to invest approximately $60 million into the Egyptian market throughout 2024.

These investments from Qatar are expected to have a significant impact on Egypt's industrial sector, promoting growth and creating new job opportunities.

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