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Egypt and Qatar have strengthened their economic ties with a $7.5 billion investment deal during President Abdel Fattah El-Sisi's official visit to Doha on April 13-14. Discussions between El-Sisi and Sheikh Tamim bin Hamad Al-Thani focused on enhancing bilateral cooperation and sustainable economic growth through joint initiatives. Qatar also expressed support for Dr. Khaled El Enany's nomination for Director-General of UNESCO, highlighting the nations' commitment to cultural collaboration.
Egypt has invested approximately USD 550 billion in infrastructure over the past decade, focusing on roads, ports, and city development to enhance economic competitiveness and attract foreign investment. The government aims for private sector participation to reach 70% of economic activity and has signed a USD 7.5 billion investment agreement with Qatar for infrastructure and reconstruction efforts in the Gaza Strip.
French President Emmanuel Macron's recent visits to Lebanon and Egypt signify a strategic push for stability in the Mediterranean, focusing on regional security and humanitarian aid. His efforts aim to empower local agency and foster partnerships, particularly in military and cultural sectors, while addressing Lebanon's political reforms and the disarmament of Hezbollah. Macron's approach emphasizes collaboration with historical allies to enhance geopolitical cooperation and support for the region's people.
Egypt's President Abdel Fattah El-Sisi reported that the Suez Canal is facing monthly revenue losses of approximately $800 million due to regional tensions, particularly attacks by Yemen's Houthis on vessels in the Red Sea. These disruptions have forced ships to reroute around Africa, significantly increasing shipping costs and contributing to an estimated $7 billion loss in 2024. The Houthis have threatened to escalate attacks on US and Israeli vessels if certain conditions are not met regarding aid to Gaza.
An emergency Arab summit in Cairo adopted a five-year, $53 billion Egyptian plan for Gaza's reconstruction, emphasizing a two-state solution and rejecting U.S. proposals to displace Palestinians. The plan includes rebuilding infrastructure, housing, and establishing a nonpartisan governance body, while facing challenges from U.S. and Israeli opposition regarding Hamas's role. An international conference in April aims to secure funding and support for the initiative, testing Arab nations' ability to rally international backing amidst ongoing tensions.
Abdel Fattah El-Sisi
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Egypt and Qatar strengthen ties with 7.5 billion dollar investment deal
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Egypt invests 550 billion dollars in infrastructure to boost economic growth
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