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Daily News Egypt
09-07-2025
- Business
- Daily News Egypt
Chinese Premier Li Qiang arrives in Egypt for high-level talks
Chinese Premier Li Qiang arrived in Cairo on Wednesday for his first official visit to Egypt, where he was greeted by his counterpart Mostafa Madbouly at the start of a trip aimed at strengthening the strategic partnership between the two countries. Li, who is heading a high-level delegation, was given an official reception ceremony at Cairo International Airport, which included the playing of both nations' national anthems and an inspection of the guard of honour, a statement from Madbouly's office said. The two premiers are scheduled to co-chair an expanded session of talks and witness the signing of several agreements aimed at enhancing bilateral cooperation in various fields. Upon his arrival, Li emphasized the deep historical and cultural ties between the two nations, noting that Egypt was the first Arab and African country to establish diplomatic relations with the People's Republic of China nearly 70 years ago. 'The ancient Silk Road linked our two peoples across thousands of miles, and our friendship has stood the test of time,' Li said in a statement. 'Under the leadership of President Xi Jinping and President Abdel Fattah El-Sisi, our cooperation continues to deepen, setting a model for South-South cooperation.' Li added that China views Egypt as a key partner in the Global South and is eager to enhance collaboration across political, economic, and multilateral platforms. During the visit, the two sides are expected to discuss expanding cooperation in infrastructure, energy, trade, and technology, as well as joint efforts to promote regional stability and sustainable development. He concluded by affirming China's commitment to contributing positively to Egypt's development and to building a stronger 'China-Egypt community with a shared future.' In June, Egypt and China agreed to strengthen economic cooperation in key sectors such as electric vehicles, electronics, and artificial intelligence, and will coordinate to organise an investment promotion forum in Egypt, the Egyptian Investment Ministry said. The agreement came during a meeting in Beijing between Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Chinese Commerce Minister Wang Wentao. The two sides agreed to enhance cooperation in several fields, including electric cars, feeder industries, electronics, water desalination, solar panels, and artificial intelligence. They also agreed to collaborate on strengthening supply chains. Chinese Commerce Minister Wang Wentao praised the bilateral trade volume, which has reached $17bn, affirming that China remains Egypt's largest trading partner. He highlighted successful investment cooperation in the TEDA-Suez zone, which has attracted significant Chinese investment, alongside major projects implemented by Chinese firms, including the Iconic Tower and Central Business District in the New Administrative Capital, the electric train, and renewable energy projects.
Al Arabiya
05-07-2025
- Business
- Al Arabiya
Malaysia puts anti-dumping duties on some China, South Korea, Vietnam iron, steel
Malaysia said on Saturday it has imposed provisional anti-dumping duties ranging from 3.86 percent to 57.90 percent on certain iron and steel imports from China, South Korea and Vietnam. The duties on imports of galvanized iron coils or sheets or galvanized steel coils or sheets were imposed based on a preliminary determination made in an anti-dumping duty investigation initiated on February 6, the investment, trade and industry ministry said in a statement. 'The government finds that there is sufficient evidence that the importation of the subject goods... is being dumped and that the investigation should be continued,' it said. The provisional duties be in effect from Monday for up to 120 days with a final determination to be made by November 3, the ministry said.
Roya News
02-07-2025
- Business
- Roya News
Jordan approves changes to grant investors citizenship, residency
The Jordanian government on Wednesday approved new regulations to grant Jordanian citizenship or residency to investors, based on recommendations from the special committee for investors. The decision, made during a cabinet session chaired by Prime Minister Jaafar Hassan, aims to stimulate investment and economic activity in the kingdom. New Citizenship Regulations for Investors The new regulations outline several avenues for investors to obtain Jordanian citizenship: Stock Market Investment Investors can gain citizenship by purchasing at least 1 million Jordanian dinars (JOD) in new shares of Jordanian companies. These shares must be held for three years and cannot be encumbered, loaned, or borrowed. The purchase must occur within four months of the Investment Ministry's approval, with no more than 20% of the total investment concentrated in a single company's shares. New Investment Projects Citizenship is granted for establishing new investment projects in productive economic sectors. The paid-up capital must be at least 700,000 JOD within the capital governorate or 500,000 JOD outside it. These projects must create 20 jobs for Jordanians within the capital or 10 jobs outside, verifiable through Social Security Corporation records. Investors meeting these criteria will initially receive a temporary Jordanian passport for three years, with full citizenship recommended after sustained compliance. Acquiring Shares in Existing Projects Investors can secure citizenship by purchasing new shares in existing productive economic projects with a paid-up capital of at least 1 million JOD. The project's new fixed assets must be at least 500,000 JOD. The investment requires a feasibility study, audited financial statements, and must create 20 new jobs for Jordanians (or as specified by Cabinet decision based on investment type). These new shares must be held for three years. Like new projects, a temporary passport is issued for three years, followed by a citizenship recommendation upon compliance. Existing Investments For investors with existing projects, citizenship may be granted if their average share of the total fixed and tangible non-current assets (calculated from audited annual statements over the past three years) is at least 700,000 JOD within the capital, maintaining 90% of the required 20 Jordanian jobs per month for three years. Outside the capital, the average share must be at least 350,000 JOD, maintaining 90% of the required 10 Jordanian jobs per month for three years. Sector-Specific Investments Citizenship is also available to investors in pharmaceutical, medical device, food logistics, storage, and large warehouse sectors. Companies must have an investment of at least 3 million JOD and employ at least 20 Jordanian workers in the capital (or 10 outside) registered with the Social Security Corporation for the last three years, specifically in pharmacist roles. High Employment Generation Investors who employ 150 Jordanian workers in the capital or 100 in other governorates, registered with the Social Security Corporation for at least one year and maintained for two consecutive years after obtaining citizenship, are eligible. Family Inclusion The investor's spouse, unmarried, widowed, or divorced daughters living under their care, and unmarried sons under 24 years old at the time of application are eligible. For investments exceeding 2 million JOD, male children under 30 years old, their spouses, and children are also eligible. Five-Year Residency Through Real Estate Investors or individuals can obtain or renew a five-year residency by purchasing real estate from a developer valued at no less than 200,000 JOD, as appraised by the Department of Lands and Survey. The property must be retained for at least five years without disposal or encumbrance. Residency is issued upon recommendation from the special committee for investors by the Ministry of Interior. Renewal requires continued ownership of the same property or a new property of equivalent value. Conditions and Limitations Jordanian citizenship will not be granted to investors who acquire shares from another investor who previously obtained citizenship based on those same shares. These regulations will apply to a maximum of 500 investors annually, subject to security checks and financial solvency verification. In the event of non-compliance with any conditions, Jordanian citizenship will be withdrawn, or residency canceled. These regulations will undergo review and evaluation every six months.
Daily News Egypt
23-06-2025
- Business
- Daily News Egypt
Egypt, China agree to boost economic ties, organise investment forum
Egypt and China have agreed to strengthen economic cooperation in key sectors such as electric vehicles, electronics, and artificial intelligence, and will coordinate to organise an investment promotion forum in Egypt, the Egyptian Investment Ministry said in a Monday statement. The agreement came during a meeting in Beijing between Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Chinese Commerce Minister Wang Wentao. The two sides agreed to enhance cooperation in several fields, including electric cars, feeder industries, electronics, water desalination, solar panels, and artificial intelligence. They also agreed to collaborate on strengthening supply chains. Chinese Commerce Minister Wang Wentao praised the bilateral trade volume, which has reached $17bn, affirming that China remains Egypt's largest trading partner. He highlighted successful investment cooperation in the TEDA-Suez zone, which has attracted significant Chinese investment, alongside major projects implemented by Chinese firms, including the Iconic Tower and Central Business District in the New Administrative Capital, the electric train, and renewable energy projects. Wang also stressed his keenness to enhance cooperation in e-commerce, infrastructure, and renewable energy. For his part, Minister El-Khatib emphasised the importance of maximising the strategic partnership through joint investments, particularly amid global economic fluctuations. He promoted Egypt's competitive advantages, including its strategic location and numerous trade agreements, which position it as an ideal hub for production and export for Chinese companies seeking access to regional and global markets. El-Khatib said he looked forward to an expected visit by the Chinese Premier to Egypt next month, which he said would be an opportunity to translate agreements into tangible projects. He also noted Egypt's commitment to improving its investment climate and adhering to World Trade Organization rules. During the meeting, El-Khatib reviewed the outcomes of the ninth session of the Egypt-China joint committee held last December and proposed that the tenth session be held in Egypt this year. He stressed the importance of increasing the trade volume to reflect the depth of the two countries' economic ties.
Zawya
19-06-2025
- Business
- Zawya
Egypt targets top 50 global business readiness ranking with key reforms
Egypt's government is targeting a position among the world's top 50 economies for business readiness and has set a three-month deadline to implement the required reforms, the country's investment minister said. Minister of Investment and Foreign Trade, Hassan El-Khatib, made the statement during the second meeting of the National Committee for the 'Business Ready' report. The meeting was hosted by the ministry and attended by Cairo Governor Ibrahim Saber and other relevant government bodies. The committee reviewed the findings of the second report issued by its technical secretariat and discussed institutional participation indicators. 'The government is targeting a position among the world's top 50 economies for business readiness,' El-Khatib said, stressing the need to implement the required measures within three months. He emphasised the need for all sectors to participate effectively by completing the report's questionnaires to ensure a realistic and effective assessment of the business environment. He noted that the required procedural reforms are not complex and can be implemented immediately, which would create a significant shift in the country's competitiveness. The minister also stressed the importance of turning current challenges into genuine reform opportunities, pointing toEgypt's existing strengths. He cited the country's advanced infrastructure, including ports and railways, a clear plan for expansion into African markets, a highly skilled workforce and engineering talent, and the availability of renewable energy sources. For his part, Cairo Governor Ibrahim Saber affirmed the governorate's full readiness to cooperate with the Ministry of Investment and Foreign Trade to address any challenges that may hinder the implementation of the targeted reforms. The meetings of the National Committee for the 'Business Ready' report are part of a state-wide effort to enhance the readiness of its institutions to apply international business standards. The initiative aims to coordinate between different government agencies and integrate their roles to build a flexible and effective institutional system capable of keeping pace with global developments and improving Egypt's investment climate.
