Egypt Secures $60 Million Investment from China to Strengthen Industrial Growth
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Roshan Amiri - . March 11, 2025
- . Update: March 11, 2025 3:03 pm
Egypt will soon receive a significant boost in foreign investment as ten Chinese investors are on the verge of opening small and medium-sized industrial projects in Egypt worth $60 million. The projects will contribute to increasing local production, employment opportunities and boosting the Egyptian industry. The investors have chosen strategic points for their factories in the Suez Gulf, Sadat City and 10th of Ramadan City. All the three regions’ infrastructure is robust and where they are easily accessible, conducive to industrial development.
Ahmed Ezz El-Din, head of the Committee for Developing Relations with China at the Egyptian Businessmen’s Association disclosed that negotiations have been underway for months between the investors, the Industrial Development Authority and Ministry of Investment and Foreign Trade. The objective is to exploit the Egyptian market by investing in small-scale industrial projects serving domestic demand while enhancing exports. The targeted industries are engineering, electrical appliances, textile and garment production and building materials which are all high-value industries with a high export value.
These new investments are among the fast-expanding economic relations between Egypt and China, as indicated by the registration of 2,066 Chinese firms in Egypt at the end of last year. Moreover, the Committee for Developing Relations with China has recently received more than ten Chinese investment delegations each seeking possible cooperation with Egyptian companies.
Yasser Abbas Deputy CEO of the General Authority for Investment and Free Zones (GAFI) declared that Chinese investment in Egypt has hit approximately $8 billion. He highlighted the government’s determination to develop small and medium sized industries as part of its larger industrial development strategy.
Egypt and China trade during the initial nine months of the year increased by 13% to $11.624 billion indicating strengthened bilateral cooperation.
