Cairo – Mubasher: Qatar’s investments in Egypt are protected by the law, Middle East News Agency (MENA) reported on Wednesday, citing Egypt’s minister of investment and international cooperation Sahar Nasr as saying.
Egypt respects its contracts and provides a safe environment for retail and institutional investments, Nasr added.
The minister’s announcement came after Egypt on Monday decided to cut its diplomatic relations with Qatar, in a move coordinated by Saudi Arabia and the UAE.
Data released by the General Authority for Investment and Free Zones (GAFI) revealed that Qatar ranks ninth in terms of countries investing in Egypt with 210 companies.
Since 1970 until the beginning of 2017, Qatari firms’ investments in Egypt have amounted to $1.105 billion.
The Gulf country’s investments in Egypt are mostly focused in the services sector, which has around 80% of investments, followed by the industrial and agricultural sectors.
