Qatar and Egypt team up for Port Construction

People who are employed spend a lot more money than those who do not. That’s as basic an economic lesson as you can get. In fact that boils down more to common sense than economics. Based on that little tidbit of info, we’d be safe to say that 1 million newly employed people will spend a lot more than if they were not. 6 zeros behind any number look good and  that’s exactly what a new agreement between Egypt and Qatar aims at accomplishing.

EgyptThe Sands of Time are Moving….

…and on the continents of Asia and Africa, they are ticking off dollar signs as fast as they are seconds. According to Qatar’s Minister of State for International Corporation, Egypt and Qatar just signed a new agreement for Qatar to build be new facilities in the ports of Port Said and Alexandria, Egypt.

After leading a delegation to Egypt, the Minister said there will also be bilateral cooperation in establishing two investment companies in Africa, with one of them focused on Sudan. The Minister said that the two sides would draw up a plan to carry out their agreements and set a time frame for the establishments of the ports.

Qatar News Agency published comments in which he said, 1m job opportunities would be created by the Port Said port project with another 200,000 jobs as a result of the Alexandria proposal.

He also added that a group of Qatari businessmen would visit Egypt next month to look for more investment opportunities.

Qatar is Full Steam Ahead

Aside from the good development partnership, Qatar has also gotten revised numbers moving its previously projected GDP growth up and over 20% possibly surpassing the growth that was forecast for Ghana just a few weeks ago. The Arab Monetary Fund (AMF) reported on Tuesday of last week, due to high oil prices and increased exports, Qatar’s GDP would grow 20% keeping it in line for a battle of the number one spot it claimed last year, as well.

Aside from oil the country is now exporting its expertise in port building and operations. Now is a great time to consider owning containers and putting them to work in the highly contested developing markets of Asia and Africa. Pacific Tycoon is here, managing these hard assets, making sure our container customers are getting paid well to be the harbingers of consumer demand.

Give us a call to find out how we can help you buy containers and get paid very well by letting us handle the leasing solutions that are demanding  space in these sizzling markets.

Image: VidalTravel

Source: WorldMaritimeNews, MENAFM, HelenicShippingNews


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