Egypts finance minister Mohamed Maait, Qatari finance minister Ali al-Kawary during a meeting held on Thursday
Egypt invested $400 billion to create an attractive environment for investors by improving the infrastructure over the past seven years, Egypt’s Minister of Finance Mohamed Maait told his Qatari counterpart Ali bin Ahmed Al-Kawary in Cairo on Thursday.
Maait added that the government encourages the private sector to increase its contribution in economic activities and the development process.
“The government is eager to foster foreign, Arab, and local investment inflows,” Maait stated at the meeting held at the finance ministry headquarters.
Al-Kawary told Maait that Egypt is an attractive investment destination for Qatari investors who are keen on exploring the new opportunities Egypt is providing.
The two sides agreed on updating the double taxation treaty (DTT) framework between the two countries to boost bilateral investments.
On Wednesday, Qatar said that it would inject $5 billion in investments into the Egyptian market following talks between Egypt’s Prime Minister Mostafa Madbouly, Qatari Foreign Minister Sheikh Mohamed bin Abdel Rahman Al-Thani, and Al-Kawary.