Egypt investment min., China ambassador probe economic cooperation

Minister of Investment and International Cooperation Sahar Nasr discussed with China's Ambassador in Cairo Song Aiguo the enhancement of cooperation at the economic, investment and development levels during the next stage.

Senior officials of the Ministry of Investment and International Cooperation and the General Authority for Investment and Free Zones attended the meeting.

They probed coordination with the Egyptian-Chinese Business Council in order to attract more Chinese investments into the Egyptian market, in addition to obtaining grants from China to support development projects across Egypt.

The meeting also tackled how to benefit from the Belt and Road Initiative and from Egypt's membership at the Asian Infrastructure Investment Bank as well as foster relations with the China Development Bank and the Export and Import Bank of China to encourage Chinese companies to pump more capital into investment ventures in Egypt.

Nasr stressed Egypt's keenness on maximizing the benefit of the comprehensive strategic partnership with China in various fields and luring new Chinese investments in various sectors, pointing out that Egypt's investment map includes many investment opportunities for Chinese investors.

"The Egyptian-Chinese investment ties have recently made remarkable progress," Nasr said. "The Egyptian government looks forward to China to become one of Egypt's top 10 investment partners and to increase the number of Chinese companies operating in Egypt in the sectors of information technology, electricity, communications, transport and transportation," she said.

She estimated the current number of these companies at 1,558.

Egypt Today Contribution Time: 19-Aug-2018 15:38 (GMT)
Egypt Today Last Update Time: 19-Aug-2018 15:38 (GMT)