Chinese direct investments in Egypt worth $700m : GAFI

The total volume of Chinese direct investments in Egypt is estimated at US$700 million, CEO of the General Authority for Investment (GAFI), Mohamed Khodeir stated Thursday.

The total number of Chinese firms working in the Egyptian market is 1,300 with total commitments to the capital estimated at around US$500 million, the official said

Khodeir made these remarks during the second round of Egypt-China business forum held by GAFI in cooperation with Egyptian Businessmen’s Association  (EBA).

The forum comes in line with the visit of a Chinese delegation to Cairo including heads of largest 50 Chinese firms working in transport, agriculture, construction, tourism, and petrochemical sectors.

The forum discussed means of enhancing Egyptian-Chinese economic ties in addition to prominent investment opportunities available in different sectors.

In his speech, Khodeir showcased efforts exerted by GAFI and Egypt’s ministry of investments to improve investment climate in Egypt.

During the forum, representatives of the ministries showcased means of joint cooperation beside projects implemented in cooperation with China in transport, energy, agriculture, industry, and construction sector.

On the sidelines of the forum, a number of joint sessions held between representatives of Egyptian and Chinese companies to discuss the potential of establishing joint investment projects in various sectors.