Egypt attracts billions of Chinese investment: Investment forum witnesses a new beginning for bilateral cooperation with the participation of 200 companies.
Written by Ayman Bahr
Hossam Heiba, CEO of the General Authority for Investment and Free Zones, participated in the first session of the Egyptian-Chinese Investment Forum to discuss cooperation opportunities and enhance investments between the two countries in the sectors of industry, technology, health, education, logistics, tourism, renewable energy and agriculture, with the attendance of about 200 Egyptian and Chinese companies.
Heba explained that China is Egypt’s largest trade and investment partner, with more than 2,000 Chinese companies operating in the Egyptian market with investments exceeding $8 billion, pointing to the investment incentives available to Chinese companies, including a discount of up to 50% of the investment cost over 7 years.
He also stressed the expansion of existing free zones and the establishment of 4 new zones in 10th of Ramadan, New October, New Borg El Arab and New Alamein, to meet the growing demand for Chinese investment.
For his part, Engineer Ahmed El Gendy, General Manager of Haier Egypt, explained that the golden license and the facilitation of establishment procedures enabled the company to operate its project in just 13 months, making it the fastest factory in the group to be established globally, with exports already starting from Egypt.
The forum featured B2B sessions between Egyptian and Chinese companies to discuss joint investments targeting the local market and global markets linked to trade agreements with Egypt.
0 تعليقات