Chinese investors interested in manufacturing, tourism in Egypt: chair of joint business council

CAIRO – 30 July 2024: Chair of the Egyptian Chinese Business Council Ahmed al-Sewedy stated that Chinese investors had been interested in the sectors of manufacturing and tourism in Egypt.

Similarly, Consultant to the President for Health Affairs Awad Tag El Din pointed out that the Chinese investors had also been interested in producing medical devices and drugs in Egypt.

The statements came during a meeting Minister of Investment and External Trade Hassan al-Khattib held with Egyptian members of the council Monday. He highlighted that the monetary, fiscal, investment, and trade policies would be oriented – in the coming period - towards incentivizing enterprises allocating shares of their production to exports.

Minister Khattib asserted the importance of deepening investment and trade ties with China within the government's plan to better integrate the Egyptian economy with global value chains. That will be achieved by facilitating the import of intermediate goods used in manufacturing finished products that can be exported, and by leveraging the Chinese interest in transferring multiple industries to Egypt given its competitive advantages and proximity to various markets.

On their side, the attendees pledged to organize promotional visits for Chinese investors to acquaint them with investment incentives, and investment zones and opportunities. They also recommended increasing the number of free zones equipped with all the utilities needed by Chinese investments.