1,299 Chinese firms invest $587m in Egypt; GAFI’s Khodair says

Around 1,299 Chinese companies are working in the Egyptian market with investments estimated at US$587.312 million, accordingly, China got the 21st place among foreign states investing in Egypt.

CEO of Egyptian General Authority For Investment and Free Zones (GAFI), Mohamed Khodair stated Sunday that the Chinese investments focuse on a number of sectors notably industry, services, construction, communication and information technology, agriculture, and tourism.

Khodair met with Han Bing -Minister Counsellor of Commercial Affairs at China’s embassy in Cairo- and a number of Chinese firms working in Egypt to remove obstacles facing them in the Egyptian market

This comes as a start for a number of meetings that GAFI holds with Chinese investors.

The CEO noted that the authority is holding regular meetings with Chinese firms to recognise all problems facing investors in addition to providing them with more investment incentives in strategic sectors.

Moreover, Minister Bing hailed GAFI’s initiative to enter into dialogues with Chinese investors in order to solve problems facing them.