Over 2,800 Chinese firms invest $8bln in Egypt: GAFI chief
Egypt - More than 2,800 Chinese companies currently operate in Egypt, with combined investments surpassing $8bn, according to Hossam Heiba, CEO of Egypt's General Authority for Investment and Free Zones (GAFI).
Major investors include OPPO, Haier, Jushi, Midea, TEDA, Huawei, and Brilliance Auto.
Heiba met with Wang Weizhong, Governor of China's Guangdong Province, to discuss deepening economic cooperation and advancing the investment agenda for the second half of 2025. The meeting brought together senior Chinese officials and executives from major companies already operating in Egypt or eyeing future investments—including Midea, OPPO, ZTE, and GAC Motor.
The two sides reviewed a packed schedule of upcoming events aimed at strengthening bilateral investment ties. Highlights include Egypt's participation in the World Economic Forum in Tianjin from June 24–26, followed by business forums in Beijing and Shanghai. Cairo is set to host the Egypt-China Investment Forum in July, with the attendance of Chinese Vice Minister of Commerce Wang Shouwen. Egypt is also preparing to take part in the China Import and Export Fair (Canton Fair) in Guangdong this October, which will bring together over 60,000 economic institutions.
Heiba stated that the strong momentum in Egyptian-Chinese investment cooperation is driven by robust political relations, Egypt's favorable business environment, and shifting global economic dynamics. These factors have led to a noticeable increase in Chinese delegations exploring investment opportunities in Egypt.
Hossam Heiba, CEO of Egypt's General Authority for Investment and Free Zones (GAFI) met with Wang Weizhong, Governor of China's Guangdong Province, to discuss deepening economic cooperation and advancing the investment agenda for the second half of 2025
He emphasized Egypt's prioritization of Chinese investments due to their high potential for job creation and technology transfer. Among current initiatives is the planned launch of a dedicated Chinese textile city in Minya in cooperation with the China National Textile and Apparel Council, operating under Egypt's export-oriented free zone framework.
Additionally, three Chinese companies—Haier, Midea, and Shanfeng—have been granted Egypt's 'golden license,' streamlining the process for business establishment and operation.
GAFI is actively targeting new Chinese investments in strategic sectors including automotive manufacturing, building materials, electronics, renewable energy, AI, data centers, and textiles.
Governor Wang affirmed the strength of the China-Egypt comprehensive strategic partnership, established in 2014, and proposed the creation of a permanent Egyptian cultural exhibition in Guangdong to help boost tourism. He noted that Guangdong alone accounts for 20% of China's total trade with Egypt.
During the visit, GAC Motor Chairman Feng Xingya announced a $300m investment to establish a new car manufacturing facility in Egypt to serve both domestic and export markets.
ZTE CEO Zhou Peng said the company plans to expand its local presence and increase technology transfer in response to Egypt's growing demand for telecom infrastructure. OPPO Egypt's General Manager, Ma Jixiang, highlighted that the company has built two factories since its 2014 market entry, creating 1,000 jobs and producing up to five million phones annually. OPPO now aims to make Egypt its second-largest production hub after China.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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