Egypt launches investment zone for Qatar’s Alam Al Roum project in North Coast

Egypt has launched an investment zone for Qatar’s Alam Al Roum project in North Coast, in a move aimed at attracting domestic and foreign investment, expanding economic activity and accelerating the development of one of the country’s major coastal destinations. The launch was attended by Mohamed Farid, Minister of Investment and Foreign Trade, and Randa El-Menshawy, Minister of Housing, Utilities and Urban Communities, alongside government officials and representatives of Qatari developer Qatari Diar. The launch marks a new step in developing the investment components of the Alam Al Roum project and creating opportunities for diversified activities in tourism, real estate and services, supporting Egypt’s efforts to attract Arab and foreign capital and expand economic development beyond the Nile Valley and Delta.

Farid said investment zones are an effective mechanism for attracting local and foreign investment, facilitating procedures, accelerating project implementation and generating direct and indirect employment opportunities for surrounding communities. He added that such zones also help stimulate economic and service activities while maximising the benefits of existing roads and infrastructure. The minister stressed the importance of simplifying procedures and digitising government services to enable investors to track applications, licences and approvals electronically, improving transparency and the efficiency of public services. He added that the Ministry of Investment and Foreign Trade would continue coordinating with the Ministry of Housing and other relevant authorities to expand public and private investment zones, as well as free zones. Private sector accounts for 65% of investment Farid said the private sector accounted for approximately 65% of total…