Chief executive of the General Authority for Investment and Free Zones (GAFI) Alaa Omar met a Chinese delegation comprising 16 Chinese companies, working in the fields of aerospace, construction, and automotive and bus transportation manufacturing, according to a press statement on Thursday.
The meeting is part of the Chinese delegation’s visit to Egypt to gauge the viability of investment in Egypt, as well as discuss opportunities for cooperation in areas of common interest.
Omar expressed Egyptian interest in increasing Chinese investments in the Egyptian market, as part of strengthening economic ties with China and forming a comprehensive strategic partnership between the two countries.
The Chinese delegation also expressed interest in cooperating with Egypt in the fields of transportation through mass transit buses, the construction materials industry, as well as the possibility of cooperation in the sector of electric elevators.
The delegation showed great interest in identifying investment opportunities in the new administrative capital project, according to the statement.
During the meeting, the two sides agreed on arranging meetings between Chinese companies and the relevant Egyptian authorities during an upcoming visit to Egypt.
There are 1,230 Chinese companies operating in Egypt, with a total capital of US$550m.