Qatari Investments in Cairo Revive the Egyptian Economy

Economists and businessmen assure that the visit of a Qatari delegation of senior businessmen and members of the Board of the Chamber of the Doha Trade and Industry to pump about ten billion dollars as a first stage in a number of major projects, are driving financial force of the Egyptian economy.

The General Secretary of the Egyptian - Qatari Council “Dr. Adel Rhouma” said that Qatari investments will be a driving force during the next financial period in the Egyptian market, especially that the amount of ten billions will play a role in the rebalancing of the index of foreign investment flows in Egypt. He pointed out that Egypt's interest is to attract Arab investments in this stage; because the Arab circle associated with the interests of the Egyptian market is much larger than the interests that bind the global investment market.

He added that the Arab investments are able to change the map and the reality of the Egyptian economy in a few years, if the flow of a large, serious and persistent of these investments in the Egyptian market in the light of availability of financial surpluses Gulf significant in the current period due to rising oil prices, and declining viability and attractiveness of international markets for Arab investments around the world.

For his part, “Ahmed Al Banna” the economic expert stressed that there are companies that state-owned fund Qatar's sovereign directly or partly owned by financial institutions, government targeting the infrastructure sector in Egypt; terms of preparing these companies to engage heavily in roads, bridges, water plants and power generation as well as a giant project to create a port axial and the global free trade on the banks of the Suez Canal contributes to the conversion of Egypt to the waterway area of logistic support, aggregate industries , areas of storage and transit to the global trade traffic from Europe to the Middle East and vice versa.

He suggested that this project is betting upon the Egyptian government in the provision of two hundred thousand jobs in the coming years; where she is preparing to announce the project soon in agreement with the country side after the studies have confirmed the feasibility of the project the ability to access the proceeds of Egypt from the tolls on the Suez Canal to about twenty billion dollars a year compared to the amount of five billion dollars entered the channel in the year. The head of Cairo Chamber of Commerce “Ibrahim El Araby” assure that these discussions took place with the Qatari delegation in June of last year.