Latest news with #Egyptian-Chinese
Daily News Egypt
02-06-2025
- Business
- Daily News Egypt
Madbouly witnesses alliance signing between Arab Contractors, China's CSCEC
Prime Minister Mostafa Madbouly witnessed the signing of a cooperation protocol between Egypt's Arab Contractors Company and China State Construction Engineering Corporation (CSCEC), establishing a strategic alliance to implement major projects in Egypt and across the African continent. The agreement was signed by Hassan Mostafa Kamel, Senior Vice Chairperson of Arab Contractors, and CSCEC Chairperson Zheng Xuexuan. The ceremony was attended by Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities; Dong Jian Guo, China's Vice Minister of Housing and Urban-Rural Development; Abdel Khalek Ibrahim, Assistant Minister of Housing for Technical Affairs; Hesham Sheta, Chairperson of INCOME (CSCEC's representative in Egypt); and Heba Abou El-Ala, Vice Chairperson of Arab Contractors. Following the signing, Prime Minister Madbouly affirmed that the protocol reflects deepening strategic ties between Egypt and China, highlighting expanding bilateral cooperation across various sectors. He emphasized that the current momentum in Egyptian-Chinese relations provides a strong foundation for advancing joint initiatives and shared interests. Housing Minister Sherif El-Sherbiny described the agreement as a key outcome of Egypt's recent high-level visit to China, which included extensive meetings with Chinese officials. During the visit, the proposed collaboration between CSCEC—one of the world's largest construction firms—and Arab Contractors—Egypt's leading state-owned construction company—was advanced to capitalize on their shared expertise and regional reach. In a related development, Prime Minister Madbouly also attended the signing of a comprehensive operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital. The agreement, signed between the New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management and Operations Company, aims to ensure world-class service delivery and infrastructure sustainability. The agreement was signed by Amin Ghoniem, NUCA Vice President for Real Estate Affairs, and Qi Zhang, Managing Director of Horizon Management and Operations Company. Minister El-Sherbiny explained that the agreement introduces a modern 'Cost + Margin' management model—balancing service quality with operational sustainability. It enables the state to maintain full oversight through budget controls and regular reviews of technical and financial performance. The agreement covers the maintenance and operation of critical infrastructure such as electricity and water networks, fire safety systems, and other essential facilities. It also includes cleaning, security, landscaping, and environmental monitoring services. All operations will adhere to strict technical specifications and legal standards, with ongoing performance monitoring and financial oversight. El-Sherbiny noted that this approach reflects a shift toward integrated, high-efficiency urban management aligned with Egypt's vision for modern, sustainable cities. He stressed that the agreement sets a new benchmark for managing public utilities, protecting state investments, and delivering services that meet the expectations of residents, visitors, and investors in the CBD. He added that the contract underwent rigorous institutional review, overseen by a ministerial committee tasked with ensuring full compliance with legal and technical standards throughout the pre-contract and implementation phases. 'This marks a pilot model for smart, integrated urban management that we aim to replicate across the New Administrative Capital and other new cities,' El-Sherbiny concluded. 'It represents a shift from traditional service models to sustainable frameworks based on performance, accountability, and governance.'
Zawya
30-04-2025
- Business
- Zawya
Egypt: GAFI explores deeper investment, innovation ties with China
Arab Finance: Egypt is seeking to strengthen its innovation and entrepreneurship links with China as the General Authority for Investment and Free Zones (GAFI) hosted the Egypt-China Forum to promote investment, innovation, and entrepreneurship partnerships, as per a statement. The forum brought together members of Egypt's business community and a Chinese delegation from Shanghai, led by Xiongwen Lu, Dean of the School of Management at Fudan University and a board member at several multinational companies. Lu said Egypt is ready to receive significant Chinese investments in the near future and noted that Fudan University would use its close ties with the Chinese private sector to promote investment opportunities in Egypt. He also pointed to the strategic depth of Egyptian-Chinese relations, which will mark their 70th anniversary next year. In 2014, the two nations upgraded their ties to a comprehensive strategic partnership. Egypt was also one of the earliest participants in China's Belt and Road Initiative. Discussions during the forum focused on linking Egyptian industries with Chinese technological advances, especially amid growing Chinese interest in Egypt following recent infrastructure upgrades and investment-friendly legislation. GAFI CEO Hossam Heiba said that supporting innovation and localizing technology are among the Egyptian government's top priorities. He noted that golden licenses were recently granted to Chinese companies Haier and Midea due to their plans to localize industrial technology in Egypt. Heiba added that GAFI has trained more than 300,000 entrepreneurs over the past five years, many of whom are helping align Egypt's economy with global tech trends. Heiba also revealed that GAFI plans to establish technology innovation centers in Egypt's free and investment zones in cooperation with partner countries, particularly China. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Independent
22-04-2025
- Politics
- Egypt Independent
Is Egypt sending a message to Israel through Chinese and Russian fighter jets?
Egyptian national security expert and journalist Mohamed Makhlouf commented on Israel's concerns regarding the joint Egyptian-Chinese air drill 'Eagles of Civilization 2025.' Speaking to RT, Makhlouf indicated that these joint military exercises, although not directly targeting a specific party, carry clear deterrent messages as they included Chinese and Russian fighter jets. The security expert explained that these exercises come at a critical time, as the region is witnessing extremely tense and complex conditions due to Israel's assault on the Gaza Strip and its numerous human rights violations. Makhlouf said that these air exercises also coincided with the conclusion of the Egyptian-Russian naval exercises 'Bridge of Friendship,' which lasted for several days. He praised the high-level performance demonstrated by the Egyptian army during these drills, which he says sends a reassuring message to the Egyptian people and confirms the readiness of its armed forces to confront any potential threat. Egypt's strategy In his analysis of Egypt's strategy, Makhlouf explained that Cairo follows a policy of 'deterrence or prevention,' which relies on two basic conditions: the first is possessing military capabilities superior to those of potential adversaries, and the second is demonstrating these capabilities in practice through joint military maneuvers and training. The Egyptian expert addressed Egypt's foreign policy since 2014, noting that the nation has maintained strong strategic relations with the US while simultaneously diversifying its arms supply sources and strengthening military cooperation with other major international powers such as China, Russia, and NATO countries such as France and Germany. Egyptian-Chinese military cooperation could witness greater developments in the future, he said, believing that 'Eagles of Civilization 2025' could pave the way for further defense cooperation. He emphasized that Egypt's orientation toward China does not mean it is severing relations with Washington, but rather aims to achieve a strategic balance and reduce reliance on a single source of arms. The security expert pointed out that these maneuvers reflect a broader shift in global military alliances, which could reshape regional and international balances and challenge traditional Western dominance in the global arms market. Israeli backlash The Israeli newspaper Maariv published an extensive report criticizing Egypt over the joint air maneuvers with China, which were launched in Egyptian airspace for the first ever time. The newspaper claimed in its report that the Chinese fighter jets participating in the military exercises came remarkably close to the Israeli border, a move it described as 'worrying.' It explained that these maneuvers include a large number of advanced aircraft and come amid escalating regional tensions. Maariv said that these developments add to Israel's growing concern over Egypt's recent military buildup in Sinai Peninsula. The report indicated that bilateral relations have been tense since the start of the war in Gaza Strip. Israel fears a possible influx of Gaza residents into Sinai and the collapse of the border with Israel. Israeli media have warned against Egypt being supplied with highly advanced fighter jets from France, which will add 30 new Rafale fighters to its air fleet, bolstering Egypt's air force. The Israeli news website 'Globes' reported that France is working to enhance the inspection process of advanced fighter jets intended to bolster the Egyptian military. It added that the French company Dassault Aviation recently conducted tests on the Rafale DM18 and DM19 fighters in preparation for their delivery to the Egyptian Air Force, according to the XL Aviation website.
Zawya
22-04-2025
- Business
- Zawya
Egypt, China sign deal to strengthen cooperation in healthcare sector
Egypt - Ahmed El-Sobky, Chairperson of Egypt Healthcare Authority, participated in the 2025 Shenzhen-Cairo Economic and Trade Exchange Forum—one of the leading platforms advancing economic and investment ties between the two countries. The forum placed a strong focus on priority sectors, especially smart and technological healthcare. El-Sobky announced the signing of a new Memorandum of Understanding (MoU) with Chinese diagnostics giant Snibe, marking a significant step toward establishing integrated diagnostic complexes in Egypt. The partnership, backed by Chinese investment, also aims to transfer advanced medical testing technologies to the Egyptian healthcare system. 'This agreement marks a milestone in our growing collaboration with leading Chinese companies,' El-Sobky said. 'We've already signed cooperation protocols with tech giants like Mindray and Huawei, and today's partnership with Snibe opens up further opportunities in laboratory and diagnostic innovation.' Reflecting on his previous visits to China, El-Sobky said they laid the groundwork for future cooperation in biotechnology and gene medicine. He emphasized Egypt's ambition to become a regional hub for advanced medical technologies, noting mutual interest in developing smart medical city models inspired by Huawei's advanced campus in China. 'We're witnessing genuine momentum in Egyptian-Chinese healthcare collaboration—from building hospitals to pioneering technological models of care,' El-Sobky noted. 'This is a strategic partnership with the potential to transform healthcare delivery across the region.' El-Sobky also addressed investors directly, encouraging them to visit Shenzhen, as invited by its mayor, to exchange expertise and explore business opportunities. 'China is one of Egypt's most important strategic partners in driving economic cooperation across the Middle East and Africa,' he added. 'We must capitalize on this foundation to deliver real, tangible outcomes.' The forum concluded with the signing of several key cooperation agreements and MoUs. Among them was the standout MoU between Egypt Healthcare Authority and Shenzhen New Industries Biomedical Engineering Co. (Snibe). The agreement focuses on enhancing technical and institutional capacity through joint training programs, workshops, and field visits. It will also support knowledge transfer to Egyptian healthcare professionals under the Universal Health Insurance System. Speaking at the event, Chen Weiqiang, Mayor of Shenzhen, commended Egypt's investment-friendly climate and expressed strong interest in deepening bilateral economic ties. Meanwhile, Liao Liqiang, China's Ambassador to Egypt, praised the enduring strategic relationship between the two nations and reaffirmed China's commitment to advancing healthcare cooperation for a more prosperous and innovative future.
Fibre2Fashion
22-04-2025
- Business
- Fibre2Fashion
Egypt & China sign Red Sea Petrochemicals design contracts
Prime Minister Mostafa Madbouli attended Thursday 17/4/2025 the signing ceremony of a package of contracts awarded to the Egyptian-Chinese joint venture tasked with executing the basic design works for phase one of the Red Sea Petrochemicals Complex in Ain Sokhna. Egypt signed contracts with a joint Egyptian-Chinese venture for phase one design of the Red Sea Petrochemicals Complex in Ain Sokhna. The project supports Egypt Vision 2030, focusing on sustainability, industrial localisation, and economic growth. Construction is set for 2026, following cost estimation and financing after the design phase. The agreement involves the Red Sea National Petrochemicals Company, China National Chemical Engineering Co., Ltd. (CNCEC), ENPPI, and Petrojet. Located 10 kilometers from Sokhna Port, the project aims to produce a range of petrochemical products through an advanced oil refinery and steam cracking units, enabling the production of ethylene and propylene. The initiative aligns with Egypt's efforts to drive a green transformation in the petrochemical sector, enhance environmental sustainability, reduce the carbon footprint, and promote energy efficiency, all in line with the Sustainable Development Strategy and Egypt Vision 2030. The project also supports the national agenda of localizing industry and increasing value-added contributions to the economy to boost investor and financial institution confidence, helping to secure funding for subsequent implementation phases, while improving the project's ability to adhere to timelines and achieve strategic goals. Completing the design phase will allow for a more precise estimation of the project's actual cost, an essential step toward securing the required financing and achieving financial closure, paving the way for construction to begin in 2026 and the launch of commercial operations thereafter. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
