Their goal is to expand into the Egyptian market by injecting new investments into small-scale industrial ventures.
Ten Chinese investors plan to launch small and medium-sized industrial projects in Egypt this year, with a total investment of $60 million.
Ahmed Ezz El-Din, Chairman of the Committee for Developing Relations with China at the Egyptian Businessmen’s Association, stated that these investors have held discussions with the Industrial Development Authority and the Ministry of Investment and Foreign Trade over the past few months.
Their goal is to expand into the Egyptian market by injecting new investments into small-scale industrial ventures.
Speaking to AlBorsa, Ezz El-Din revealed that the investors have chosen to establish their new factories in the Suez Gulf, Sadat City, and 10th of Ramadan City.
These projects fall under the small and medium-sized industrial sector, aimed at meeting local market demands and increasing employment opportunities.
The new investments will cover key industries such as, Engineering industries, Electrical appliances, Textile and garment manufacturing, and Building materials.
These sectors hold high added value and promising export opportunities.
Ezz El-Din highlighted the rapidly growing economic relations between Egypt and China, which have encouraged more Chinese companies to invest in the Egyptian market.
By the end of last year, 2066 Chinese companies were registered in Egypt.
Additionally, the Committee for Developing Relations with China recently received over 10 Chinese investment delegations from various provinces.
These delegations conducted preliminary feasibility studies to explore potential industrial partnerships with Egyptian businesses.
Previously, Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), stated that total Chinese investments in Egypt have reached approximately $8 billion.
He also emphasized the government's commitment to expanding small and medium-sized industries as part of its industrial development plans.
Trade between Egypt and China grew by 13% in the first nine months of this year, reaching $11.624 billion, compared to $10.283 billion in the same period last year.
The Committee for Developing Relations with China at the Egyptian Businessmen’s Association organizes over 30 annual meetings with Chinese delegations, each including more than 40 companies.
These meetings aim to explore investment opportunities and enhance industrial and service sector cooperation between the two nations.
