Minister of Investment and International Cooperation Sahar Nasr met with the Chinese ambassador to Egypt, Song Aiguo in the presence of the Asian department head at the ministry, Mona Ahmed and officials responsible for the Chinese file at the General Authority for Investment and Free Zones (GAFI), according to a Sunday ministerial statement.
The statement noted that the meeting discussed boosting Chinese cooperation with Egypt in terms of development aspects and their investments in the local market.
The statement said that both sides discussed collaboration with the Chinese Egyptian business council with the aim of increasing Chinese investments in Egypt, adding that the meeting discussed the developmental cooperation through Chinese funds and grants for the Egyptian projects.
Additionally, the meeting discussed boosting Egypt’s benefits of the Belt and Road initiative, adding that Egypt’s membership at the Asian Infrastructure Investment Bank and other Chinese financial institutions will encourage Chinese firms to inject new money in the Egyptian market.
For her part, Nasr affirmed Egypt’s keenness to make great benefits of the comprehensive strategic partnership with China in several areas of cooperation, adding that the bilateral relations remarkably progressed over recent years.
Egyptian government looks forward to China’s acquiring a rank among the top 10 invested countries in Egypt, said Nasr, noting that China has about 1,558 firms in Egypt working on several sectors, such as energy, ICT, transportation.
Moreover, the Chinese ambassador reaffirmed the historical relations between China and Egypt, adding that the Chinese investments will remarkably grow over the next period, especially, after the Egyptian reforms including the New Investment Law.