Chinese Investments in Egypt worth US$ 447mln- Official
The Chinese investments in Egypt, since 1970 till now, are estimated at US$ 477 million, Ayman Ali Othman -Trade Minister Plenipotentiary at the Egyptian embassy in China- revealed Saturday.
Othman -also the head of the economic and trade office in China’s embassy- stated that China is the 24th among the states that invest in Egypt through 1.213 firms working in lots of investment projects.
Othman added that 68% of the Chinese firms invest in industrial projects while 15% are investing in financing services, 9% are investing in communication and information technology sector, and 8% investing in other sectors.
He claimed that the most important Chinese companies investing in Egypt are: Jushi Group Co.LTD for fiber glass with investments worth US$ 67 million , Egypt TEDA Investment Company in construction and building sector with investments estimated at US $64 million in addition to EGEMAC with investments in power plants sector worth US $35 million.
On the other hand, the investments of Sinopec Corp. in Egypt’s petroleum sector worth US$ 20 million while Angel Yeast Co., Ltd invests in food industries field with US$ 20 million.
Othman pointed out that there are other Chinese companies invest in Egypt’s automotive industry sector with total investments of US$12 million and in marble industry field with investments worth US$ 10 million.
Moreover, Othman urged the Egyptian government to solve any problems face Chinese firms to give positive indications to attract more firms to invest in Egypt.
