IDA, China's CFLD discuss developing industrial zones in Egypt

CAIRO - 9 May 2018: Board Chairman of the Industrial Development Authority (IDA) Ahmed Abdel Razeq discussed on Wednesday with an official delegation of China Fortune Land Development (CFLD) means of boosting cooperation to develop industrial zones in Egypt.

The authority said in a statement that the two sides discussed means of benefiting from CFLD's in-house expertise in developing industrial areas in Egypt.

A study is currently conducted to develop eco-friendly industrial communities in Egypt, the statement added.

The delegation is accompanied by a senior official of the National Development and Reform Commission (NDRC), China's top economic planner, which works for the implementation of the Belt and Road Initiative (BRI).

First proposed in September 2013, China’s BRI is the signature foreign policy initiative of Chinese President Xi Jinping.

BRI is a development strategy that focuses on connectivity and cooperation between Eurasian countries, primarily the People's Republic of China (PRC), the land-based Silk Road Economic Belt (SREB) and the ocean-going Maritime Silk Road (MSR).

It has morphed through various iterations from the "New Silk Road" to "One Belt One Road".