Cairo: Prime Minister Mostafa Madbouly said he has been following social media discussions on Egypt's investment partnership with Qatar to develop the Alam Al-Roum area, noting that some critics had questioned why the government did not undertake the project itself. 'This actually made me smile,' Madbouly said, 'because five years ago, the same people accused the state of overspending on projects like the New Administrative Capital and New Alamein City. They claimed the government was borrowing to finance these developments. Yet today they argue the government should execute such projects itself!'

According to State Information Service Egypt, Madbouly spoke during the signing ceremony of the Egyptian-Qatari investment partnership for the development of the Samla and Alam Al-Roum areas in the North-West Coast. He stressed that the state's intervention over recent years was necessary to revive the economy amid global and local turbulence. He explained that Egypt's large-scale investment in infrastructure and flagship projects had laid the foundation for the private sector to enter confidently and for foreign investors to see viable opportunities in Egypt.

Madbouly emphasized that without the massive infrastructure investment, Egypt would not have succeeded in attracting private capital in sectors such as industry, tourism, ICT, agriculture, and logistics. He affirmed that these efforts created the environment for partnerships like the current agreement, expressing hope that the coming period will witness more projects that bring prosperity to Egypt.

Madbouly concluded by extending his gratitude to 'our Qatari brothers' for their trust and confidence in Egypt's investment climate.