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Trade Minister endeavors to double Qatari investments

15
Apr '08

The Trade and Industry Minister for Egypt recently visited Qatar with the aim of promoting trade and investment ties between the two countries.

A special emphasis was laid on attracting Qatari investment into the newly planned Qatari Industrial Zone in Egypt which will be the first of its kind in North African country.

Memorandum of Understanding (MoU) was inked last year, with Qatari Diar Real Estate Investment Company, to begin technical preparations for the establishment of this industrial zone.

To be located in Borg el Arab, on the Mediterranean coastal region of Egypt, the zone will cover 8.81 million square meters and is expected to generate production of around LE55bn (QR37 bn).

Besides, it will also attract investments worth LE16 billion and generate about 133,000 jobs in the country over the next 10 years. This will make the industrial zone, one of the largest Qatari investments ever in Egyptian industry.

Egypt offers a host of advantages to investors as its deregulated local business environment, competitively priced manufacturing environment in terms of land, labour and energy; the largest skilled workforce; and a strategic geographic location are very conducive for the development of any enterprise.

In addition to this, investors can also enjoy duty-free access to some of the largest consumer markets because of its unique preferential trade agreements with the United States, Europe, Africa, the Middle East and Turkey.

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