500 Chinese businessmen to visit Egypt, eyes investments in Suez Canal region

Big 5

A total of 500 Chinese businessmen are to visit Egypt by the end of August to discuss potential investment opportunities in the Suez Canal region.

The businessmen will also look into investment opportunities elsewhere inside Egypt, according to Mohamed Helmi Helal, a board member of the Egyptian Association of Investors Chambers .

Egypt and China have taken recent steps to increase cooperation and investments in a number of fields.

In January, Chinese President Xi Jinping visited Egypt, signing a number of cooperation deals — in the transportation, power generation, and civil aviation sectors — worth $15 billion.

China recently named Egypt as a guest of honour at the upcoming G20 summit, which will be held in early September in China’s Hangzhou.

Overall, Chinese investments in Egypt are worth an estimated $546 million.

source: Ahram Online