
Over 2,800 Chinese Firms Invest USD 8 Billion in Egypt
May 23, 2025
More than 2,800 Chinese companies have invested over USD 8 billion in Egypt, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Key players include tech and manufacturing giants such as Huawei, Haier, Midea, ZTE, and OPPO, with rising confidence reflected in a growing number of new licenses issued to Chinese firms.
GAFI is targeting strategic sectors—automotive, electronics, artificial intelligence, textiles, and renewable energy—as part of a national push to position Egypt as a regional hub for manufacturing and technology. Among the major projects underway is a USD 300 million car assembly plant by China's GAC Motor, alongside the launch of the Chinese Textile City in Minya Governorate.
Haier, Midea, and Shanfeng are also among the first companies to benefit from Egypt's 'golden license', a fast-track permit aimed at streamlining investment procedures and cutting red tape for strategic projects.
Heiba discussed these developments during a meeting with Guangdong Province Governor Wang Weizhong in Cairo. Egypt has also confirmed its participation in two major upcoming events: the China-Africa Investment Forum in July and the Egypt-China Investment Forum in November, both expected to deepen bilateral economic cooperation.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily News Egypt
5 hours ago
- Daily News Egypt
Apparel, textile chambers engage with Chinese delegation to explore investment opportunities in Egypt
The Egyptian Chamber of Apparel and Home Textile Industries (ECAHT) and the Textile Industries Chamber at the Federation of Egyptian Industries (FEI) recently hosted a high-level Chinese delegation comprising 15 representatives from both public and private sectors. The meeting aimed to explore avenues for boosting investment in Egypt's burgeoning garments and textile sectors. During the discussions, the Chinese delegation underscored the significant potential within the Egyptian market, emphasizing the availability of a young and skilled labor force alongside Egypt's extensive network of trade agreements with major global economic blocs. These advantages, they noted, provide strong incentives for Chinese investors to swiftly establish a presence in the country. Shaimaa Bahaa El Din, Director of International Affairs & Development Partners' Relations at the FEI, welcomed all forms of collaboration and affirmed the readiness of Egyptian business leaders to promptly engage in new economic partnerships in accordance with Egyptian laws. She highlighted the flexibility of investment models available, including partnerships, acquisitions, or the establishment of new manufacturing facilities. Hany Kadah, Executive Director of the ECAHT, emphasized Egypt's keen interest in sourcing production inputs and fabrics from China. He noted that the Chamber represents over 10,000 registered ready-made garment factories in Egypt. Kadah further pointed out Egypt's strategic advantage stemming from trade agreements with key blocs across Asia, the Americas, and Africa, making the country an attractive destination for Chinese investment. He also highlighted the success of the Chinese industrial zone TEDA in Egypt, which currently hosts major Chinese investments, and stressed the importance of maintaining effective and continuous communication channels to address any challenges. Kadah added that Egypt's labor force is readily available but requires additional training, referencing the presence of many Turkish garment factories that operate in Egypt and export products made by Egyptian workers. Khaled El-Behairy, Executive Director of the Textile Industries Chamber, noted that the dyeing, finishing, spinning, and weaving sectors encompass 14,000 members within the chamber. He emphasized the mutual benefits of Chinese investments, where China gains from Egypt's labor force, abundant energy resources, and trade agreements, while Egypt benefits through job creation, increased Chinese investment, and higher export volumes. Li Xin, Vice President of the China National Garment Association (CNGA), expressed that Chinese investors are actively expanding their overseas investments, with a strong focus on increasing their footprint in Africa—particularly in Egypt. He highlighted Egypt as a key investment destination amid global shifts in trade policies and customs tariffs, supported by the availability of competitive labor costs that position Egypt for significant Chinese investment growth in the near future. Xin also provided an overview of China's garment industry, which consists of 195,000 companies employing 20 million workers and generating total sales of CNY 4.5 trillion. He explained that many Chinese companies have recently relocated portions of their operations abroad, particularly to East Asia, in response to evolving global economic dynamics.


Al-Ahram Weekly
16 hours ago
- Al-Ahram Weekly
China hopes for 'reciprocity' at trade talks with US in Stockholm - Economy
Chinese and US economic officials met for talks in Stockholm on Monday, with Beijing saying it wanted to see "reciprocity" in its trade with the United States. Talks in the Swedish capital between the world's top two economies are expected to last two days. They came a day after US President Donald Trump reached a deal that will see imports from the European Union taxed at 15 percent and the clock ticking down for many countries to reach deals or face high US tariffs. Beijing said on Monday it hoped the two sides could hold talks in the spirit of "mutual respect and reciprocity". Foreign ministry spokesman Guo Jiakun said Beijing sought to "enhance consensus through dialogue and communication, reduce misunderstandings, strengthen cooperation and promote the stable, healthy and sustainable development of China-US relations". For dozens of trading partners, failing to strike an agreement in the coming days means they could face significant tariff hikes on exports to the United States come Friday, August 1. The steeper rates, threatened against partners like Brazil and India, would raise the duties their products face from a "baseline" of 10 percent now to levels up to 50 percent. Tariffs imposed by the Trump administration have already effectively raised duties on US imports to levels not seen since the 1930s, according to data from The Budget Lab research centre at Yale University. For now, all eyes are on discussions between Washington and Beijing as a delegation including US Treasury Secretary Scott Bessent meets a Chinese team led by Vice Premier He Lifeng in Sweden. In Stockholm, Chinese and US flags were raised in front of Rosenbad, the seat of the Swedish government. While both countries in April imposed tariffs on each other's products that reached triple-digit levels, US duties this year have temporarily been lowered to 30 percent and China's countermeasures slashed to 10 percent. But the 90-day truce, instituted after talks in Geneva in May, is set to expire on August 12. Since the Geneva meeting, the two sides have convened in London to iron out disagreements. China progress? "There seems to have been a fairly significant shift in (US) administration thinking on China since particularly the London talks," said Emily Benson, head of strategy at Minerva Technology Futures. "The mood now is much more focused on what's possible to achieve, on warming relations where possible and restraining any factors that could increase tensions," she told AFP. Talks with China have not produced a deal but Benson said both countries have made progress, with certain rare earth and semiconductor flows restarting. "Secretary Bessent has also signalled that he thinks a concrete outcome will be to delay the 90-day tariff pause," she said. "That's also promising, because it indicates that something potentially more substantive is on the horizon." The South China Morning Post, citing sources on both sides, reported Sunday that Washington and Beijing are expected to extend their tariff pause by another 90 days. Trump has announced pacts so far with the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines, although details have been sparse. An extension of the US-China deal to keep tariffs at reduced levels "would show that both sides see value in continuing talks", said Thibault Denamiel, a fellow at the Centre for Strategic and International Studies. US-China Business Council president Sean Stein said the market was not anticipating a detailed readout from Stockholm: "What's more important is the atmosphere coming out." "The business community is optimistic that the two presidents will meet later this year, hopefully in Beijing," he told AFP. "It's clear that on both sides, the final decision-maker is going to be the president." For others, the prospect of higher US tariffs and few details from fresh trade deals mark "a far cry from the ideal scenario", said Denamiel. But they show some progress, particularly with partners Washington has signalled are on its priority list like the EU, Japan, the Philippines and South Korea. The EU unveiled a pact with Washington on Sunday while Seoul is rushing to strike an agreement, after Japan and the Philippines already reached the outlines of deals. Breakthroughs have been patchy since Washington promised a flurry of agreements after unveiling, and then swiftly postponing, tariff hikes targeting dozens of economies in April. Follow us on: Facebook Instagram Whatsapp Short link:


See - Sada Elbalad
17 hours ago
- See - Sada Elbalad
EU Accuses Temu of Selling Illegal Products
Israa Farhan The European Commission has issued preliminary findings accusing Chinese e-commerce platform Temu of breaching the European Union's Digital Services Act (DSA) by failing to prevent the sale of illegal and non-compliant products within the Single Market. Temu , which boasts nearly 94 million average monthly users across the EU, is designated as a Very Large Online Platform (VLOP) under the DSA. This classification subjects it to enhanced regulatory obligations, including stringent consumer protection measures. According to a statement released on Monday, the Commission determined that Temu presents a high risk to European consumers, with evidence indicating widespread availability of illegal goods on the platform. The investigation, formally launched in October, also raised concerns over the platform's business practices, including misleading discounts, fake reviews, lack of transparency regarding third-party sellers, and a design strategy that may exploit addictive user behaviors. The Commission further emphasized that Temu is failing to comply with the EU's product safety standards, thereby undermining consumer trust and the integrity of the digital Single Market. Temu has been granted the opportunity to respond to the allegations. However, should the Commission uphold its findings, the company could face penalties of up to 6% of its global annual revenue. A spokesperson for Temu stated that the company is cooperating fully with EU authorities. No final ruling has yet been made. The Digital Services Act, which came into force to enhance accountability and consumer protection across major online platforms, represents a cornerstone of the EU's digital governance strategy. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"