Extensive Efforts and Several Meetings for GAFI CEO in Qatar to Attract
Investments
Counselor Abdel Wahab meets with Qatari Businessmen Association and they agree on
implementing a number of joint projects between the private sectors of the two countries.
During his meeting with the CEO of Qatar Investment Authority (QIA): We are keen to
increase Qatari investments in Egypt, especially in new and renewable energy projects, and
to provide various mechanisms to overcome any challenges investors may encounter.
Qatari businessmen praise the Economic Reform Program in Egypt. The chairman of Qatari
Businessmen Association encourages Qatari companies to examine the promising
investment opportunities in Egypt in the fields of agriculture, energy, tourism, food security
and food processing industry.
As a part of extensive efforts and several meetings, during his visit to Qatar, Counselor Mohamed Abdel
Wahab, GAFI CEO, met with Sheikh. Faisal Bin Qassim Al-Thani, Chairman of Qatari Businessmen
Association, and a number of major Qatari companies that are members in the Association. The meeting
was held to open direct communication channels with the Qatari business community, enabling them to be
updated with the latest developments in the investment environment in Egypt in preparation for pumping
new investments into the Egyptian market, as well as presenting a specific set of investment opportunities
to the Association representatives for consideration, and choosing suitable projects for each investor based
on his own priorities.
Abdel Wahab stressed that GAFI is working according to a strategy aimed at attracting investments in a
number of priority sectors, which cover the plans and directions of Qatari investments, foremost of which
is the industrial sector, where Qatari businessmen were presented with the most important investment
opportunities in the field of chemical and petrochemical industries, food processing, pharmaceuticals and
infrastructure, in addition to reviewing the preferential advantages offered by the various investment
frameworks in Egypt, including Free Zones, Investment Zones, and the Suez Canal Economic Zone
(SCZONE).
GAFI CEO also indicated that a number of incentives and support for investment activities related to the
green economy, artificial intelligence, innovation support and domestication of the industry have been
activated, as well as simplification of procedures and setting a specific period for the performance of
services delivered to investors.
Counselor Mohamed Abdel Wahab called Qatari companies to visit Egypt during September to see closely
the development of the investment climate and the tremendous improvement in the infrastructure that serves
investment purposes. It was also agreed that GAFI would hold bilateral business meetings between the
Egyptian and Qatari business community to implement joint projects benefit the two brotherly peoples.
For his part, Sheikh Faisal bin Qassim Al-Thani, Chairman of Qatari Business Association, stressed the
importance of cooperation between the two countries, praising the Economic Reform Program implemented by Egypt over the past years. His Excellency encouraged Qatari companies to assess the promising
investment opportunities in Egypt, adding that the mutual economic opportunities between Qatar and Egypt
aimed to develop their cooperation in the investment sectors are many and varied, especially in the fields
of agriculture, energy, tourism, food security and food industries, as well as investments in the water,
communications and information technology sectors.
GAFI CEO Counselor Mohamed Abdel Wahab met with QIA CEO Mr. Mansoor Ibrahim Al-Mahmoud,
to discuss means to increase Qatari investments in Egypt through the QIA's affiliates.
Abdel-Wahab indicated that GAFI encourages all Qatari investments in order to make the best use of the
various investment opportunities that Egypt provides to investors, as well as to achieve a high return on
Qatari investments targeted to be attracted to Egypt.
GAFI CEO explained that Egypt has implemented many reforms that would provide an appropriate
ambiance to attract more FDIs, in addition to providing various mechanisms to overcome any challenges
that investors may face. He pointed out the importance that the Egyptian government attaches to
empowering the Private Sector and providing greater opportunities to engage it in the development and job
creation.
Abdel Wahab discussed the participation of QIA in a number of strategic projects, stressing that QIA could
possibly obtain the Golden License; that is a single license covering all construction and operational permits
related to a strategic or a national project. QIA CEO expressed his desire to invest in new and renewable
energy projects in Egypt, especially in solar and wind energy plants, which are currently a priority for QIA.
He added that QIA is currently exploring the possibility of entering into partnership with a number of
Egyptian companies, especially startups, which have achieved great success locally and regionally.
The two sides agreed to continue coordination and cooperation during the coming period by exchanging
data related to investment opportunities that QIA is keen to explore. They also agreed to increase technical
meetings with Qatari companies in light of GAFI being keen to support these companies to carry on
business in the Egyptian market.
On another level, GAFI CEO met with the Chairman of the Board of Directors of Al-Faisal Holding Group
and its executive officers to discuss ways to increase the Group's investments in Egypt. Through its
subsidiaries (worth approximately USD 1.1 billion), the Group already invests in Egypt and owns several
hotels and a real estate project in the Fifth Settlement district; Phase I of said project is currently being
implemented.
Abdel Wahab stressed that GAFI is keen to provide full support to the Group in course of implementing
their investment plans in Egypt, which include the establishment of several hotels in various governorates
of Egypt, the establishment of an integrated medical complex, and the implementation of industrial projects
operating in feed industry.
