Egypt and China signed a grant for the implementation of launching satellite Egypt-SAT-2 for remote sensing applications with $45m.
Minister of investment and international cooperation, Sahar Nasr signed with Chinese ambassador to Cairo Song Aiguo, with the presence of Minister of Higher Education Khalid Abdel Ghaffar and representatives of the National Authority for Remote Sensing and Space Sciences to complete a grant of $23m for a satellite collection project, in cooperation with China’s National Space Administration.
Nasr said that the project aims to transfer Chinese technology in the field of satellites to serve the purposes of research projects and remote sensing, noting the importance of cooperation with China in the field of space technology and remote sensing with China and benefit from the Chinese experience in this area to coincide with the establishment of the Egyptian space agency, which will make Egypt a regional and Arab centre.
Nasr added that the Egyptian-Chinese investment relations have made remarkable progress in recent years and lead the Chinese companies.
The minister pointed out that Chinese companies in Egypt are leading sectors of information technology, electricity, telecommunications, transport and transportation with a total of 1,558 companies.
The coming period will witness cooperation between the Ministries of Investment and International Cooperation and Higher Education and Scientific Research, especially in entrepreneurship and youth projects, according to Nasr.
Meanwhile, the Chinese ambassador said that China is keen to transfer its expertise in the field of satellite manufacturing and operation technology.
He elaborated that the satellite project will contribute to supporting Egypt’s regional leadership in space and scientific research, praising the improvement of the investment and business environment in Egypt, which encourages Chinese investors to inject more new investments in the coming period.
Moreover, he pointed out that during the visit of President Abdul Fattah Al-Sisi to China in 2014, Egypt and China agreed on a comprehensive strategic partnership between both countries, which resulted in a number of agreements and this agreement is the beginning of cooperation in the field of space and satellites, which is a new area of cooperation between the two countries.
The ambassador noted that Egypt and China will focus on making cooperation more strategic during the coming period.