1,226 Chinese firms invest $500mn in Egyptian market: GAFI’s Khodair

The total Chinese investments in the Egyptian market reached US$500 million, Chairperson of the General Egyptian Authority for Investments (GAFI), Mohamed Khodair announced Sunday.

He added that China got the 23rd place among the states investing in Egypt as there are 1,226 Chinese firms working in the Egyptian market.

Khodair hold a meeting with a mission from China’s Beijing Enterprises Group to showcase its business in Egypt. The Chinese group works in different sectors notably petrochemicals, fertilizers, natural gas, water treatment, Waste-to-energy (WtE), in addition to producing polypropylene, and establishing smart industrial zones.

During the meeting, the chairman expressed Egypt’s keenness on cooperating with Chinese firms among Egypt’s vision 2030 as pursuant to the investment opportunities in fields of infrastructure, water desalination plants, and generating power from solid wastes.

GAFI is ready to provide all support for the Chinese group, the chairperson pointed out, showcasing investment opportunities available in water desalination, sewage water treatment, and WtE fields.

On other side, Chairman of Beijing Enterprises Group, Wang Dong asserted that the group keen on enhancing Egyptian government’s plans and strengthening cooperation with GAFI to implement developmental projects in Egypt and Africa.