CAIRO: Egypt’s President Abdel Fattah El-Sisi has said Egypt was keen to further enhance investment and economic cooperation with Beijing, Arab media reported on Sunday. He made these remarks during a meeting with a Chinese delegation led by the chairman of the China International Energy Group.
Egyptian President congratulated Chinese President Xi Jinping on his re-election as President of China and lauded the Chinese leadership and nation for “achieving firm development and an important position at the global level.”
China-Egypt economic cooperation
The chairman of the Chinese International Energy Group said that the motives for investment in Egypt were based on the friendly ties between Beijing and Cairo, the leadership of the two sides, and the people of the two countries. He said that development in industrial facilities and infrastructure in Egypt over recent years had provided opportunities for new investment. The Chinese official said that they intended to initiate a green hydrogen production project in Egypt with investments ranging from $5 billion to $8 billion.
Earlier, Egypt’s Prime Minister Mostafa Madbouly said that attracting investment was a key priority of his government. He said that Beijing was one of Egypt’s key trading partners and hoped that China could “become a key investment partner for Egypt.”
