President Abdel Fattah El Sisi wrapped his Qatar trip with a big investment agreement, which saw the Gulf state further cement warming relations by agreeing to work towards a USD 7.5 bn package of direct Qatari investments in Egypt in the near future, according to a joint statement from the two nations. The announcement — which didn’t provide any further details of the investment plan — followed talks between El Sisi and Qatari Emir Sheikh Tamim bin Hamad Al Thani.

El Sisi also met with leaders in the Qatari business community to stress the investment case for Egypt, telling the Qatar Chamber of Commerce, Qatari Businessmen Association and senior Qatari official that the country’s strategic location, skilled and affordable labor, efficient infrastructure, competitive energy prices, Arab and African freetrade agreements, and a state pushing an investor-friendly legislative agenda make it an investment destination they should take note of.

The Qatari public and private sectors already have a sizable investment footprint in the country, from major real estate developments from the likes of Qatari Diar, Qatar Energy’s important stakes in our oil and gas concessions, and more. There’s also plenty of big-ticket investments in the works, including Qatari investors that are still reportedly eyeing majority stakes in terminal operators and a “very important” real estate project on the North Coast.

A new and improved Egyptian-Qatari Business Council is also in the pipeline, after Prime Minister Moustafa Madbouly directed Investment Minister Hassan El Khatib to revive the council that has been inactive since 2014, unnamed government sources told Al Borsa. The reformed council will get the green light in the next two months.

The story also caught the attention of the international press: Reuters | Bloomberg

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