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Limited impact of COVID-19 on Chinese businesses in Egypt: Embassy

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Limited impact of COVID-19 on Chinese businesses in Egypt: Embassy

Chinese direct investments in Egypt increase 40% in 2019, says ambassador Liao


The ongoing coronavirus (COVID-19) pandemic has had a limited impact on Chinese businesses operating in Egypt, the Chinese ambassador to Egypt, Liao Liqiang, told Daily News Egypt.

Speaking via a virtual press conference on Sunday, Liao said, “The pandemic’s effect on the Chinese companies is limited and can be contained. A Chinese company is [continuing] doing its work in the New Administrative Capital, while Chinese businesses in Ain Sokhna are focusing on their projects.”

Chinese direct investments in Egypt increased by $104m in 2019, a 40% growth from 2018, the ambassador added.

Liao also said that the ongoing coronavirus pandemic has pushed companies to amend their commercial contracts and travel plans between both countries. This did not mean, however, that investment plans had been halted, as it has instead taken place through online communications. 

Liao outlined his confidence that both countries’ business relations will prosper after overcoming the pandemic. He also asserted that several Chinese businesses have offered medical aid to Egypt to help the country combat the coronavirus outbreak.

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https://dailyfeed.dailynewsegypt.com/2020/04/19/limited-impact-of-covid-19-on-chinese-businesses-in-egypt-embassy/
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