Egypt keen on protecting Qatari investments
Egypt recently severed ties with Qatar, but believes the countries' economic relationship should stay above the fray.
The breakdown in relations between Qatar and Egypt isn't expected to affect investments between the countries, according to Egyptian officials and some economic experts.
Egypt decided, along with the United Arab Emirates (UAE), Saudi Arabia and Bahrain, to sever ties with Qatar on June 5. The financial world immediately predicted the break in ties would negatively affect economic relations between Qatar and the Gulf states involved.
But Egypt says it did not make the decision lightly and took into consideration Qatari investments in Egypt. According to data from Egypt's General Authority for Investment and Free Zones, 210 Qatari companies have more than $1.1 billion invested in Egypt, mainly in the services sector, followed by industry.
Egypt has been keen to reassure Qatari investors working in Egypt; Egyptian Minister of Investment and International Cooperation Sahar Nasr confirmed in a June 7 press statement that Qatari investments in Egypt are protected by law.
