Qatar committed to investing $5 bln in Egypt: Finance minister

"We believe Egypt has great investment opportunities," Al-Kuwari said in an interview with Bloomberg TV.

When asked about the state-owned assets offered by the Egyptian government, the minister said Qatar is interested in the manufacturing, tourism, and telecommunication sectors.

In March 2022, Egyptian and Qatari ministers and officials agreed in an extended meeting in Cairo on a package of $5 billion in investments and partnerships in Egypt.

The value of trade exchange between Egypt and Qatar increased to $80.1 million in the first 11 months of 2022, up from $45.5 million in 2021, recording an increase of 76.2 percent, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Qatar is the third largest Arab state investor in Egypt. There are currently 160 Qatari companies in Egypt that have injected investments worth nearly $2 billion, according to a previous statement by Cabinet Spokesperson Nader Saad.