Egypt courts Chinese investment in key sectors amid economic reform drive - Economy
Egypt seeks to deepen economic ties with China as it pushes for foreign investment to support a broad programme of structural reforms and infrastructure upgrades.
Planning and International Cooperation Minister Rania Al-Mashat led a high-level meeting with senior Chinese business figures in Tianjin on the sidelines of the World Economic Forum. The talks focused on potential collaboration in sectors, including energy, digital infrastructure and logistics, under the 2014 Comprehensive Strategic Partnership between the two countries.
The meeting, which was also attended by Investment and Foreign Trade Minister Hassan El-Khatib, included executives from Chinese firms operating in industries such as automotive, pharmaceuticals, and finance.
Al-Mashat presented Egypt's reform agenda as an opportunity for joint investment, citing progress in trade facilitation, private-sector development, and legislative reform. She also pointed to Egypt's geographic position and network of trade agreements as incentives for businesses looking to expand in Africa, the Middle East or Europe.
While Egypt and China have maintained diplomatic and economic ties for decades, Beijing's role in Africa and the Middle East has expanded markedly in recent years, particularly through its Belt and Road Initiative.
During the meeting, Al-Mashat referenced Egypt's Vision 2030 strategy, which includes targets for sustainable growth and localization of key industries. She also reiterated the government's interest in partnerships that support green transition efforts.
In 2023, Egypt and China signed a memorandum of understanding under China's Global Development Initiative (GDI) and their first debt-for-development swap agreement—tools intended to increase cooperation in technology transfer, research and development.
The government is now working on a medium-term strategy to guide these efforts. However, specific outcomes or projects have yet to be announced.
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