Doha, October 29 (QNA) - HE Minister of Investment and Foreign Trade of the Arab Republic of Egypt Dr. Mohamed Farid Saleh affirmed on Thursday that Egyptian-Qatari relations are witnessing significant strategic development across political and economic spheres, highlighting expanding opportunities for investment cooperation and productive integration in the industrial and tourism sectors between the two nations.
Speaking to Qatar News Agency (QNA) on the sidelines of "Global Perspectives: In Doha" event, Dr. Mohamed Farid Saleh stated that the State of Qatar has successfully attracted widespread international participation despite challenging global geopolitical conditions, establishing a premier platform to exchange insights on boosting investment, trade, and economic growth.
He noted that bilateral relations achieved substantial progress, citing the joint development of Alam El-Roum investment zone, in partnership with Qatari Diar, as a prime model of bilateral economic cooperation. He explained that the project encompasses comprehensive regional development beyond mere land acquisition, with cash investments for land acquisition reaching approximately USD 3.5 billion.
The Egyptian Minister of Investment and Foreign Trade added that participation in Cityscape real estate exhibition provided an opportunity to review the project's execution phases. He revealed that the initial phase recorded robust commercial demand, with foreign investors from outside the Arab Republic of Egypt accounting for nearly 40 percent of real estate unit purchases in Alam El-Roum zone.
He stated that ministerial and corporate meetings held with both public and private sector leaders in Doha yielded highly positive outcomes, reflecting a mutual commitment to scaling up joint investments and strengthening industrial supply chain integration.
Concluding his statement to QNA, HE Minister of Investment and Foreign Trade of the Arab Republic of Egypt Dr. Mohamed Farid Saleh highlighted expanding prospects for bilateral cooperation within the tourism sector, particularly through targeted investments in prime coastal destinations to broaden cross-border economic partnerships. (QNA)