Egypt attracts $8bln in Chinese investment from 2,800 companies
Heiba's remarks came during his meeting with Wang Weizhong, Governor of Guangdong Province, along with a number of officials from Chinese companies seeking to invest in the Egyptian market.
The government is devoting special attention to Chinese investments, as they aim to transfer Chinese technology to Egypt and provide labor-intensive employment, Heiba noted.
He revealed that the GAFI plans to establish a complete Chinese textile city in Minya Governorate, adding that three Chinese companies were granted golden licenses to operate in Egypt.
The two sides discussed the investment cooperation agenda for the second half (H2) of 2025, which includes the Ministry of Investment and Foreign Trade's participation in the World Economic Forum, which will be held in Tianjin from June 24th to 26th.
Furthermore, the Egyptian-Chinese Investment Forum will be held in Cairo next July, with the participation of Chinese Vice Minister of Commerce and International Trade Wang Shouwen.
On his part, Feng Xingya, Chairman of Guangzhou Automobile Group (CAG), unveiled the company's plans to invest $300 million for establishing an automotive factory in Egypt to meet local market needs and export.
Xu Ziyang, CEO of ZTE, rolled out plans to expand the company's business in the Egyptian market and localize Chinese technology in the country. This comes amid high demand from Egyptian telecom firms for developing the telecommunications infrastructure.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 hours ago
- Zawya
Egyptian businesses ready to invest in Nigeria — Envoy
The Egyptian Minister of Foreign Affairs, Immigration and Expatriates, Badr Abdel Aaty, has expressed the readiness of Businessmen, Chief Executive Officers (CEOs) of Egyptian origin, to commence offering goods and services in Nigeria. Aaty disclosed this when he paid a courtesy visit to his Nigerian counterpart, Amb. Yusuf Tuggar in Abuja on Monday. Accompanied by CEOs of the 30 biggest companies in Egypt, the Minister listed agriculture, pharmaceuticals, industry, energy, mineral, oil, and gas as some of the areas of interest to the investors. 'I'm l eading a big delegation. We have more than 30 giant companies in Egypt, in different sectors, in agriculture, in pharmaceuticals, in industry, in energy, in mineral, oil and gas, you name it. They are here because there are a lot of opportunities, a conducive environment for investment and we are committed to come, to invest, to do business here based on a win-win situation', he said. Speaking further, Aaty lamented that the trade relationship between Nigeria and Egypt was far below what it should be: 'The current trade volume between our two countries does not meet or correspond with the weight of two giants in Africa, Nigeria and Egypt. 'This is very minimal. We have to double and even triple the trade volume in order to match the weight of the two countries. And we are fully committed, we have the political will from Nigeria, from Egypt to do and I'm fully committed to work with my dear brother Minister Yusuf to hopefully double and triple the trade volume in the near future', he said. He, however, informed that they were working on instructions to the heads of government of both countries to enhance bilateral cooperation relations. 'Our political relationship is more than excellent, but we have to do more on economic trade and investment based on a win-win situation. Nigeria is the largest country in Africa. Nigeria is the gateway to Africa, not only to the west and central Africa, but to all of Africa. 'That's why, as my brother Youssef mentioned, I'm starting my tour from here, from Abuja, in recognition of the strategic status of this great country. The two leaders met before in Rio de Janeiro on the side of the G20 meeting and they agreed to elevate our relationship into a comprehensive and strategic partnership and this is our task as foreign ministers to do more and to enhance our cooperation', he said. Responding, Amb. Tuggar noted that they had good intentions and expressed readiness to expedite actions on their request: 'They have one of the largest players that has successfully reclaimed record amounts of land, turned desert into fertile land that is producing food in Egypt. They have come here, and they are interested in investing and participating in Nigeria. 'Of course, there are some of the other players, for instance, the power and energy sector, electricity and swede, the likes of them are already here. They are looking at opportunities in gas and in the mineral sector. 'Both countries are also going to establish a joint commission so that all of these initiatives, including the chamber of commerce that we have, would be subsumed under that so that we can drive it faster,' he said. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
5 hours ago
- Zawya
Alameda Healthcare Group to install second linear accelerator system at Dar Al-Fouad Hospital
Cairo, Alameda Healthcare Group, a leading healthcare provider in Egypt, is proud to announce the installation of a second state-of-the-art Linear Accelerator System (LINAC) at Dar Al-Fouad Hospital – 6th of October, reinforcing its strategic alliance with Siemens Healthineers, a global leader in medical technology, and Varian, acquired by Siemens Healthineers, to advance Radiation Therapy Services in Egypt. The new TrueBeam system, scheduled for installation before the end of 2025, represents a significant milestone in Alameda's ongoing commitment to expanding access to high-precision oncology treatments. As part of the Group's broader strategy to elevate cancer care, the TrueBeam system will enable the treatment of both highly specialized and conformal cases, offering enhanced speed, accuracy, and patient comfort. This development is part of a strategic agreement between Alameda, Siemens Healthineers, and Varian, a part of Siemens Healthineers' portfolio of solutions, aimed at transforming the oncology care ecosystem in Egypt through the adoption of advanced technologies and global best practices. Dr. Fahad Khater, Chairman of Alameda Healthcare Group, commented, 'This installation marks an important step in our mission to offer world-class oncology services that are highly accessible. With the addition of a second LINAC system at our 6th of October facility, we are significantly boosting our treatment capacity and furthering our vision to provide cutting-edge, compassionate care to every patient.' Amro Kandil, CEO and Managing Director of Siemens Healthineers Egypt, added, 'At Siemens Healthineers, we are proud to support Alameda in its mission to provide top-notch oncology care in Egypt. The integration of the TrueBeam system at Dar Al-Fouad Hospital exemplifies the impact of strategic collaboration in improving patient outcomes. Through this ongoing partnership, we continue to enable access to advanced, precise, and patient-centered radiotherapy technologies.' The TrueBeam system is renowned for its versatility and precision in delivering image-guided radiotherapy and radiosurgery. This expansion also reflects the Group's ongoing investment in advanced medical infrastructure and its commitment to meeting the increasing needs of cancer patients across Egypt.
Zawya
5 hours ago
- Zawya
Meetings Convene in South Africa.. Dr. Rania Al-Mashat Represents the Arab Republic of Egypt at the G20 Development Ministerial Meeting and the First Global Ministerial Meeting for Small and Medium-Sized Enterprises Organized by the United Nations International Trade Centre
H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, arrived in South Africa to represent the Arab Republic of Egypt at the 4th meeting of the G20 Development Working Group (DWG) and the G20 Development Ministerial Meeting, held under South Africa's G20 Presidency, themed 'Solidarity, Sustainability, and Equality,' with the participation of representatives from G20 countries, and a number of representatives of relevant governments and organizations. The meetings address several important issues, most notably the fundamental principles of global public goods and public investment, in addition to discussing mechanisms for mobilizing development financing and ways to implement them, with focus on building global resilience through the provision of comprehensive social protection. The meetings also discuss the outcomes of the 4th International Conference on Financing for Development, which recently held in Seville, Spain. H.E. Dr. Rania Al-Mashat is also participating in the First Global Ministerial Meeting for Small and Medium-Sized Enterprises (SMEs) organized by the United Nations International Trade Centre (ITC), which is also being held in conjunction with South Africa's G20 Presidency. The meeting aims to establish strategic global partnerships to enhance trade, technology, and investment opportunities for SMEs, and accelerate their growth and integration into global markets. Dr. Rania Al-Mashat is scheduled to participate in numerous events and panel discussions, in addition to holding bilateral meetings with development partners and government representatives to explore avenues to strengthen joint cooperation to advance development efforts in Egypt and enhance international partnerships. H.E. will also present the outcomes and efforts of the Ministerial Group on Entrepreneurship in supporting the startup ecosystem. The meeting will also witness the launch of the 2025 SME Competitiveness Outlook Report, which provides practical insights on how digital tools and innovation can empower SMEs to succeed in the global economy. The first Global Ministerial Meeting for SMEs will witness the participation of Ms. Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC), Ms. Amina J. Mohammed, Deputy Secretary-General of the United Nations, and numerous representatives of governments and international organizations. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
