Chinese investments in Egypt worth $546mn- minister

China’s total investments in the Egyptian market are estimated at US$546 million, getting the 23rd place among largest investors in Egypt, Investment Minister Dalia Khorshid announced Tuesday.

The minister made these remarks during her meeting with Industry Minister Tarek Qabil and Chairman of China’s National Development and Reform Commission, Xu Shaoshi.

During the meeting, both Egyptian and Chinese parties discussed enhancing economic relations and joint investments between two states within the upcoming period.

Investment ministry is adopting ambitious plan to improve the investment climate so that Egypt could get its place as investors’ destination, Khorshid said, emphasising on the necessity of developing trade exchange and mutual investments with China during the coming period.

On other side, Minister Qabil showcased the importance of the coming visit of Egypt’s President Abdel Fattah al-Sisi to China next September to attend G20 meetings .

He clarified that the deep Egyptian-Chinese political relations participated in upgrading economic relations to be a strategic partnership.

Minister Qabil stated that it is important to fill the current gap in trade balance between Egypt and China .

Moreover, Qabil asserted on the necessity of making use of the Chinese expertise in fields of Small and Medium-sized Enterprises (SMEs) and developing industrial zones.

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