Cairo: Deputy Chair of the Economic and Investment Affairs Committee in Egypt’s Senate, Dr. Amani Fakher, affirmed that the Qatari-Egyptian investment partnership agreement to develop a project in the Samla and Alam El-Roum areas of Matrouh Governorate comes within the framework of economic cooperation and integration between the two countries.
According to Qatar News Agency, Dr. Fakher, who is also a Professor of International Economics at Helwan University, stated that the project is part of a series of investment initiatives between Egypt and Qatar, anticipated to launch soon. She emphasized that Egypt’s North Coast is a crucial coastal tourist destination, and such projects will elevate Egypt’s status on the global tourism map.
Dr. Fakher pointed out that the expected investment volume in the area will be significant, reflecting the scale of ongoing coastal development projects. She asserted that the project will generate numerous opportunities for the Egyptian economy by creating jobs, attracting international tourism, and significantly contributing to the country’s GDP.
Additionally, she highlighted the importance of enhancing investment cooperation between Egypt and Qatar across various fields. She noted that opening up the tourism sector to investment can lead to opportunities in other sectors within Egypt.
Dr. Fakher concluded that foreign investment is a crucial pillar of economic development for any country, offering mutual benefits. She emphasized that expanding foreign direct investment aligns with both Egypt Vision 2030 and Qatar National Vision 2030, and promoting investment in sustainable development is a key objective.