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Egypt, Qatar Sign $5 Billion in Investment Deals

A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
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Egypt, Qatar Sign $5 Billion in Investment Deals

A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany

Egypt and Qatar have agreed to sign investment deals worth $5 billion, the Egyptian cabinet said in a statement on Tuesday.

The cabinet gave no details of the investments and partnerships, announced during a visit to Cairo by the Qatari ministers of foreign affairs and finance, saying only that they would be for the “coming period.”

Egypt is facing new financial pressures linked to the war in Ukraine, which is pushing up the cost of its large wheat import needs and hitting Red Sea tourism, according to Reuters.

Egypt’s foreign minister said on Monday that the two countries were setting up a joint committee to strengthen cooperation across different fields.

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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.