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Cairo, November 06 (QNA) - Deputy Chair of the Economic and Investment Affairs Committee in the Egypt's Senate Dr. Amani Fakher affirmed that the Qatari-Egyptian investment partnership agreement to develop a project in the Samla and Alam El-Roum areas of Matrouh Governorate comes within the framework of economic cooperation and integration between the two brotherly countries.Dr. Fakher, who is also a Professor of International Economics at the Faculty of Commerce and Business Administration at Helwan University and a former Dean of the Faculty, told Qatar News Agency (QNA) that the project is part of a series of investment packages and projects between the Arab Republic of Egypt and the State of Qatar, expected to be launched in the coming period.She underlined that Egypt's North Coast is one of the country's most important and promising coastal tourist destinations, and therefore, establishing such major investment projects will place Egypt on the global map of coastal tourism and make it an international attraction.She noted that the volume of expected investments in this area will be significant, reflecting the scale of coastal development projects taking place there.Dr. Fakher stressed that the project will offer many opportunities for the Egyptian economy by creating jobs and attracting international tourism, and will add significant value to Egypt's gross domestic product (GDP).The Deputy Chair of the Economic and Investment Affairs Committee also highlighted the importance of developing investment cooperation between Egypt and Qatar in various fields, noting that there is no doubt that opening up investment in the tourism sector creates opportunities for investments in other sectors within Egypt.Dr. Fakher concluded her remarks to QNA by emphasizing that foreign investment, in general, is a vital pillar of economic development for any country, bringing mutual benefits to both the investing and host countries. She underlined that expanding the scale of foreign direct investment across all sectors and economic activities aligns with both Egypt Vision 2030 and Qatar National Vision 2030, pointing out that promoting investment in sustainable development is among the key goals in this regard. (QNA)
