Chinese investments in Egypt record US$480mn

The total volume of Chinese investments in Egypt is estimated at US$480 million, Trade and Industry minister Monir Fakhry Abdel Nour announced Monday.

Abdel Nour stated that there are 1,231 Chinese firms working in the Egyptian market in different sectors such as industrial, financing services, communications, and information technology.

Egyptian International Cooperation ministry is coordinating with the Chinese government to provide around 150 training programmes annually to enhance the governmental cadres in different fields, the minister said.

He added that China is to provide specialised training programmes in order to bring the Chinese developmental experience to the Egyptian side in different fields.

The minister noted that the Egyptian government will encourage China to establish logistics center in Egypt, out of five logistics centers set to be established in Africa, to facilitate trade between Africa and China, attract investments and trade with Egypt, accelerate Egyptian exports’ movement to African markets as well as raising mutual cooperation in customs field.

Abdel Nour further stated that Egypt’s non-petroleum exports to China are expected to grow within the upcoming period.