Qatar interested in investing in renewables in Egypt

Qatar is interested in investing in renewable energy in Egypt, especially in solar and wind projects, the chief executive of the Qatar Investment Authority (QIA) said during a meeting with his counterpart at Egypt's General Authority for Investment and Free Zones (GAFI).

GAFI's Mohamed Abdel Wahab on Monday met with QIA's chief executive Mansoor bin Ebrahim Al-Mahmoud and the president of the Qatari Businessmen Association, Faisal bin Qassim Al Thani, as well as representatives of local companies in the Gulf state in an effort to attract more investments from the region to Egypt.

During his visit, Abdel Wahab discussed QIA's involvement in a number of strategic projects, stressing the possibility of granting a golden license to Qatari companies. The golden license is a single license granted to strategic projects and combines all construction and operating permits necessary for the implementation of the projects.

Abdel Wahab also noted that Egypt has launched a number of incentives to support the development of a green economy, artificial intelligence and innovation as well as simplify procedures for investors.

The two sides agreed to continue to cooperate and exchange data related to investment opportunities in Egypt that the Qatari side would explore. QIA, on its part, pledged to provide support to companies from the Gulf state that intend to enter the Egyptian market.

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