ICEC

Chinese real estate firm CFLD eyes injecting $20bn into Egypt in 10 years

Chinese leading new industrial city operator China Fortune Land Development Company (CFLD) targets injecting new investments of around US$20 billion into Egyptian market within the coming ten years.

A representative of the Chinese firm stated Thursday that CFLD’s future plans rely on making  Egypt its regional centre in the Middle East and North Africa besides investing in Egypt’s New Administrative Capital City.

The official noted that CFLD is set to organise global exhibition in China to encourage international and Chinese firms to invest in Egypt with the attendance of more than 300 large global companies.

On other side, Egyptian investment minister Dalia Khorshid asserted that Chinese investors are optimistic and trust Egypt’s investment climate.

She emphasised that those investments would positively affect the national economy as they would provide more job opportunities for Egyptian youths.

Investment ministry is set to form a technical business group including representatives of the ministry and CFLD to make study for company’s business in Egypt. The study is set to be submitted for all ministries and organisations, the minister noted.

Moreover, minister Khorshid added that Egyptian-Chinese relations are deep in all fields.

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