Qatar Investment Authority eager to invest in Egypt’s tourism, hotel sectors

Ahram Online , MENA , Sunday 18 Sep 2022

Qatar Investment Authority (QIA), the Qatari sovereign wealth fund, has expressed eagerness to pump investments into the tourism and hotel sectors in Egypt, a statement by the cabinet on Saturday read.

Egyptian Prime Minister Mostafa Madbouly heading a meeting with Qatar Investment Authority (QIA) delegation, A several senior officials from the French hotel group Accor and Egyptian officials on Saturday 17 September, 2022. Photo courtesy of Egyptian cabinet Facebook page.


In a meeting with Egyptian Prime Minister Mostafa Madbouly on Saturday, Chief of Asia-Pacific and Africa Investments at QIA Faisal Bin Thani Al-Thani said that Egypt is one of three most important destinations for Qatari investments in the region, noting that the authority gives great attention to the Egyptian market.

A number of senior officials from the French hotel group Accor attended the meeting.

For his part, Madbouly said that the visit by the Qatari business delegation gives a strong impetus to economic cooperation.

Last week, Egypt's president Abdel-Fattah El-Sisi made a two-day visit to Doha – his first since assuming the presidency in 2014 – upon the invitation of Qatar’s Emir Tamim bin Hamad Al Thani.

During the visit, the two leaders signed several memorandums of understanding (MoUs), including one between QIA and the Sovereign Fund of Egypt (TSFE) for investment and development.

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