Egyptian President Abdel Fattah El Sisi on Sunday stressed the importance of enhancing Arab economic integration in light of mounting global challenges, including the repercussions of the COVID-19 pandemic, volatility in food and energy markets, and ongoing trade tensions. In a meeting with Qatari business representatives in Doha, President Sisi highlighted the crucial role of the Arab business community in overcoming such hurdles through deeper cooperation and investment. He urged Qatari companies and business leaders to scale up their investments in Egypt, describing the country as a promising destination due to its strategic location, skilled and cost-effective labour, favourable energy prices, and extensive free trade agreements with Arab and African nations. He also pointed to Egypt's investor-friendly legislative framework. Sisi outlined Egypt's wide-ranging investment opportunities in sectors such as ICT, manufacturing, renewable energy, tourism, and more. He stressed the government's focus on localising industries and embracing advanced technologies, especially artificial intelligence, and expressed Egypt's openness to various forms of partnership with Qatari investors. The president assured that Egypt offers a safe and stable environment for investment, supported not only by security measures but also by public awareness of the importance of stability. He further reviewed Egypt's infrastructure drive, including the construction of new cities, the upgrade of transport systems and ports, and the development of international logistical corridors near seaports. The meeting included an interactive dialogue where President Sisi acknowledged the challenges Egypt's economy faced in recent years but affirmed that necessary reforms had been implemented. He reassured investors that there are no longer issues with the repatriation of profits in foreign currency and noted ongoing efforts to streamline licensing procedures through the single-window system and golden licence. Sisi also revealed that Egypt had established seven logistical hubs linking the Red Sea and the Mediterranean via robust road networks, and invited Qatari investors to explore these facilities and seize investment opportunities in logistics. Additionally, the president said Egypt had prepared around two to three million feddans for agricultural reclamation and was open to Qatari partnerships in this area. He also encouraged investment in Egypt's automotive sector, particularly electric vehicles, citing the country's industrial infrastructure and sizeable market. Sisi welcomed Qatari investment in education, including the construction of universities, and healthcare, notably the development of world-class hospitals. He also encouraged investments in tourism, aiming to double hotel room capacity and develop resorts along Egypt's coasts, as well as ICT, including mobile phone manufacturing. On energy, he affirmed Egypt's goal to generate 42 per cent of its electricity from new and renewable sources by 2030. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
