The first China-Egypt Investment Forum was held in Cairo, Egypt on November 9th. Vice Minister of Commerce and Deputy Representative for International Trade Negotiations Ling Ji, Ambassador of China to Egypt Liao Liqiang, Minister of Investment and Foreign Trade of Egypt Khattib, Deputy Speaker of the House of Representatives ABU Ainin, Secretary-General of the Entrepreneurs Association Manzarawi and others attended and delivered speeches. Nearly 400 representatives from Chinese and Egyptian enterprises and business associations attended the forum.
Ling Ji said that under the strategic guidance of the heads of state of the two countries, the economic and trade relations between China and Egypt have developed steadily and healthily. Holding the China-Egypt Investment Forum is a concrete measure to implement the important consensus reached by the leaders of the two countries. China is willing to deepen the alignment of development strategies with Egypt, strengthen cooperation in the industrial and supply chains, consolidate the advantages of cooperation in traditional industries such as textiles, home appliances, equipment manufacturing and petrochemicals, seize the opportunities of cooperation in emerging industries such as photovoltaic, wind power and new energy vehicles, and explore the potential of cooperation in future industries such as information technology, cloud computing, artificial intelligence and smart cities, so as to promote high-quality development of investment cooperation between the two countries.
Khatib said that China is Egypt's largest trading partner and a major source of foreign investment. The Egypt-China Investment Forum provides a good platform for deepening trade and investment cooperation between the two countries and matching new investment projects. Egypt advocates free trade and opening up to the outside world, and is committed to improving the business environment, strengthening the guarantee of elements such as land and electricity, and enhancing customs clearance efficiency. It hopes to attract more Chinese enterprises to invest in renewable energy, electric vehicles, digital economy and other fields in Egypt. For this purpose, the Egyptian government has established a cross-departmental task force for Chinese investment.
The on-site exchanges at the forum were lively and the connections were active. The investment management department of Egypt held a roundtable dialogue on investment policies, with representatives from investment professional institutions and Chinese-funded enterprises engaging in in-depth exchanges and discussions. Three sub-forums on textile and apparel, mechanical and electrical engineering and new energy, and digital economy will be held respectively. Chinese enterprises stated that in recent years, Egypt's business environment has continued to improve, with significant geographical advantages and broad investment fields. This forum is held at the right time and will seize the good opportunity for investment in Egypt.
During the forum, Ling Ji and the Chairman of the General Authority for Investment and Free Zone Management of Egypt, Haiba, co-chaired the first meeting of the China-Egypt Investment Cooperation Working Group.
Source: Economic and Commercial Office of the Embassy of the People's Republic of China in the Arab Republic of Egypt
