CAIRO – 21 August 2024: In Egypt, 2,066 Chinese companies are currently operational, collectively investing $8 billion, as per a disclosure made by Rasha Abdel Aal, the head of the Egyptian Tax Authority (ETA).
Abdel Aal highlighted Egypt's intention to enhance Chinese investments by establishing a dedicated economic zone inspired by those in China.
These remarks were made at the Tax Policy Conference in Egypt, a collaborative event between the Chinese Chamber of Commerce and the ETA. The head of the ETA elaborated that the special economic zone predominantly hosts Chinese enterprises engaged in various industrial and information technology sectors.
She emphasized the ETA's commitment to ensuring the financial stability of these companies through consistent tax policies.
According to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) in May, Egypt-China trade volume stood at $13.9 billion in 2023, down from $16.6 billion in the previous year. In the fiscal year 2022/2023, Chinese investments in Egypt surged to $956.7 million, a significant increase from $563.4 million in the fiscal year 2021/2022.
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