During a government meeting to boost economic cooperation with China, Egyptian Prime Minister Mostafa Madbouly said that Chinese investment in Egypt had surpassed $10 billion.
- Chinese investment in Egypt has surpassed $10 billion, reflecting increased confidence from Chinese businesses.
- Egyptian and Chinese officials reviewed the status of their strategic partnership and discussed new collaboration opportunities.
- Economic cooperation is credited with supporting Egypt’s development goals and aligning with mutual commercial interests.
- Talks focused on sectors like industrial growth, technology, telecommunications, infrastructure, mining, renewable energy, and agriculture.
According to the Egyptian official, the milestone highlights the growing investor confidence in the country’s economic ecosystem and the expanding presence of Chinese businesses in Egypt.
Madbouly presided over the third meeting of the Ministerial Committee for China Affairs, during which ministers and top officials evaluated the status of the Egypt-China Comprehensive Strategic Partnership and explored new potential for collaboration in several critical sectors.
Madbouly stated that economic cooperation between both countries has continued to strengthen under both nations’ leadership, supporting Egypt’s development goals while furthering mutual commercial interests.
The Egyptian prime minister also examined the state of current bilateral projects and urged government agencies to work closely together to guarantee the successful implementation of cooperative efforts.
“This reflects the growing confidence of the Chinese business community in Egypt’s investment environment and the promising opportunities the country offers investors,” he said
Mohamed El-Homsany, Egyptian government spokesperson, also added to the conversation, stating that officials are exploring new projects and investment possibilities with Chinese partners to expand economic cooperation between the two countries.
These conversations focused on industrial growth, desalination projects, technological localization, telecommunications, transportation infrastructure, mining, renewable energy, specialized chemical and engineering sectors, agriculture, and measures to boost Egyptian agricultural exports.
According to the government, these programs are expected to help the North African country achieve its long-term development goals by fostering technology transfer, attracting more Chinese investments, increasing domestic manufacturing capacity, and providing new chances for economic growth.
Officials also assessed the status of current projects and discussed new possibilities for cooperation in important industries, emphasizing both nations’ commitment to developing their economic partnership and growing investment-driven collaboration in the coming years.
Business Insider Africa