Chinese investments in Egypt hit $6 bln

The total Chinese investments in Egypt recorded  $six billion, including direct and indirect investments, China’s Economic and Commercial Counselor at the Chinese Embassy in Cairo Han Bing said.

He made these remarks during  the Egyptian Chinese Business Council, which is organized by the Federation of Egyptian Chambers of Commerce in cooperation with the Chinese Embassy in Cairo.

Bing, during his speech said that most of the Chinese projects are in the fields of infrastructure and energy, including the Chinese trade and industrial zone in northwest the Gulf of Suez.

He added that Egypt adopted the Chinese Yuan in the basket of currencies of Egypt’s Central Bank, noting that developing trade relations between both countries has become highly important in order to form strategic partnership.

On the other hand, He lauded stability and economic prosperity in Egypt due to the measures of the economic reform program, which reflected on the increasing Egyptian exports to China.