Egypt and Qatar recently reached an agreement to establish a joint investment fund with an initial investment cap of $1 billion.

The news follows the decision to create a mutual tax exemption between Qatar and Egypt last week

In a meeting with representatives of the Qatari Businessmen Association at the end of February, Egypt’s Minister of Planning and Economic Development Hala El-Said announced that a joint investment fund would be created.

She said that the soon-to-be-held business meeting between the two countries will cover the specifics of the plan to create a joint investment fund between the two nations.

According to the same sources, it will be decided later on whether the fund will be associated directly with the Egyptian Ministry of Planning and Economic Development or with the Sovereign Fund of Egypt, but the fund will invest in the stock market as well as other initiatives.

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