Egypt showcases 15 investment projects at China-Africa Cooperation Summit

Egypt has introduced 15 projects at a cost of $10 billion at the Forum on China-Africa Cooperation in South Africa’s Johannesberg, the Spokesperson for the Egyptian Cabinet Hossam Qaweesh said Saturday.

Qaweesh stated that the Chinese side is interested in projects in the Suez Canal zone, especially projects related to power generation, logistics, transportation, and infrastructure.

He added that the “fast, non-routine” steps needed to execute such projects will be a challenge for the government, but affirmed Egypt’s eagerness to move forward and complete any procedures necessary for such projects.

Egypt’s Prime Minister Sherif Ismail met with Chinese President Xi Jinping late Friday in Johannesburg, where investment in Egypt was discussed.

Egyptian-Chinese cooperative relations will reach their 60th year anniversary next month, Qaweesh said.

The Chinese president will visit Egypt in January 2016, a step that Egypt considers the “inauguration of a new stage in the relationship.”

According to Qaweesh, Jinping expressed his appreciation for his Egyptian counterpart, Abdel Fattah al-Sisi, and his leadership.

Qaweesh added that China has said that it stands with Egypt in its efforts to combat terrorism, especially after Egypt secured a non-permanent seat on the UN Security Council in October.

Source: Ahram Online