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Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Opportunities for Chinese investments - Economy - Al-Ahram Weekly
A delegation from Egypt is set to visit China next month following last week's visit of a Chinese investment delegation to Egypt A delegation from the Suez Canal Economic Zone (SCZONE) is scheduled to visit China next month to promote the industrial opportunities available in the SCZONE, Mustafa Ibrahim, vice chair of the China-Egypt Relations Committee at the Egyptian Businessmen's Association (EBA), told Al-Ahram Weekly. The visit is part of ongoing efforts to boost Chinese investments in Egypt. Wang Weizhong, governor of Guangdong Province in China, was also in Cairo last week with a delegation representing Chinese government agencies and Chinese companies interested in investing in the Egyptian market. The delegation also included representatives from Chinese companies already operating in Egypt. Some 2,800 Chinese companies currently operate in Egypt, with total investments exceeding $8 billion, according to the General Authority for Investment and Free Zones (GAFI). Ibrahim expects Chinese investments to reach $12 billion by the end of 2025. The Chinese delegation explored investment opportunities in various sectors, including electric vehicles. The visit aimed to support the Chinese government's Belt and Road Initiative and to study investment opportunities in the Egyptian market. China plans to move many of its factories abroad due to its commitment to reduce carbon emissions by 2026 and to avoid obstacles that could affect its exports to various countries, including members of the European Union, Ibrahim explained. China is also keen on redirecting its labour force towards high value-added industrial sectors such as the technology industry, in which it has outperformed many of its competitors, he added. Chinese companies are interested in investing across several sectors in Egypt, including textiles, ready-made garments, electrical appliances, the automotive industry, and natural gas exploration. Ibrahim said that China has moved into a new era, transitioning from product imitation to innovation, which has made countries like Germany eager to learn about the technologies used in Chinese robots, for example. China is seeking partners with whom it can strengthen its ties, and Egypt stands out with its large market and trade agreements with many other countries that enable access to nearly three billion consumers, Ibrahim said. He noted that over the past year and a half visits from Chinese delegations have taken a new and more serious turn, with provincial governors and leaders from the ruling party heading the delegations. Chinese investors are also planning to invest in new sectors, including tourism and the establishment of hotels and are currently studying investment opportunities in that field. Ibrahim said that cooperation between Egypt and China takes three main forms, with China exporting production inputs and finished products to Egypt, undertaking projects managed by Chinese companies for implementation in Egypt, and injecting direct investments into the Egyptian economy. He stressed the need for consistent laws and a stable economy to attract foreign investors, making the investment climate more appealing. Ahmed Mounir Ezzeddin, chair of the China-Egypt Relations Committee at the Egyptian Businessmen's Association (EBA), told the Weekly that Egypt's infrastructural development, both in terms of urban expansion and power networks, has opened the door for the establishment of large and medium-sized factories and has encouraged various investments, including those from China. China's only industrial city on the African continent is in Egypt in the shape of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone on the shores of the Red Sea and south of the Suez Canal. This started on an area of three million square metres and has now expanded to 10 million, reflecting Egypt's importance to Chinese investors. Ezzeddin said that Egypt possesses several factors that attract Chinese investments, such as the new investment law, an improved business environment and a competitive labour force, in addition to competitive electricity and fuel prices. He highlighted that recent measures to regulate the import of finished products have encouraged Chinese investors to inject capital into the home appliance sector, aligning with Egypt's goal to provide competitively priced locally produced products for both domestic consumption and export. * A version of this article appears in print in the 29 May, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
25-05-2025
- Business
- See - Sada Elbalad
U.S.-Egypt Policy Leaders Forum Kicks Off in Cairo with Strong Emphasis on Investment, Private Sector Empowerment
Ahmed Emam The U.S.-Egypt Policy Leaders Forum kicked off in Cairo, bringing together top government officials and senior executives to advance economic cooperation and investment opportunities between the two nations. The two-day forum, hosted at the Four Seasons Nile Plaza, features the participation of Egyptian Prime Minister Dr. Mostafa Madbouly, nine cabinet ministers — including the full economic team — and the head of the General Authority for the Suez Canal Economic Zone. Leading the discussions was Minister of Investment and Foreign Trade Eng. Hassan El-Khatib, who delivered a keynote address outlining Egypt's bold reform agenda aimed at enhancing the country's investment climate and empowering the private sector as a driver of sustainable growth. 'The business environment in Egypt is becoming increasingly stable and attractive for American investors,' El-Khatib stated. 'Our government is committed to building a predictable, transparent ecosystem that encourages long-term investments.' He detailed a suite of recent economic reforms, including the adoption of a flexible exchange rate, regulatory streamlining, and the launch of a pilot digital platform offering over 380 licensing services to facilitate business operations. El-Khatib also announced that Egypt will soon unveil a new trade policy by the end of June, designed to reduce foreign trade transaction costs and time by up to 75%, positioning Egypt more competitively on the global stage. The minister highlighted measures to modernize Egypt's tax system, reduce non-tax burdens on companies, and consolidate fee-collecting agencies to reduce bureaucracy and improve transparency. Furthermore, he noted that Egypt has recently approved the recognition of U.S.-certified Halal certificates and slashed related fees by up to 50% to streamline market access for American goods. Reaffirming Egypt's commitment to free trade and private sector engagement, El-Khatib said the government is transferring state-owned assets to the Sovereign Fund of Egypt to maximize their value and create new public-private partnerships, in line with the structural reform agenda. 'Egypt is a uniquely positioned investment hub with modern infrastructure, a skilled labor force, and a diversified economy,' El-Khatib said, citing over \$550 billion invested in infrastructure over the past decade. He pointed to promising sectors such as renewable energy, healthcare, tourism, and information technology as priority areas for collaboration. The forum hosts a high-level U.S. delegation comprising 79 executives representing 51 major American companies, alongside representatives from the International Finance Corporation (IFC), the International Monetary Fund (IMF), and the World Bank. The event reflects the strategic depth of U.S.-Egypt relations and underscores the shared commitment to strengthening direct dialogue between policymakers and investors. As Egypt advances its reform program, the forum serves as a platform to explore new avenues for trade, investment, and economic partnership. 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 Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Zawya
21-05-2025
- Business
- Zawya
Egypt: El-Khatib explores plans for German industrial zone in SCZONE
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib and German Minister for Economic Affairs and Energy Katherina Reiche agreed to support efforts to establish a German industrial zone in the Suez Canal Economic Zone (SCZONE), according to a statement. They addressed the available investment opportunities in the Egyptian market on the sidelines of the Arab-German Business Forum, which hosted around 250 German and Arab companies. The meeting also touched upon Egypt and Germany's coordination for holding the seventh session of the Joint Committee this year. Reiche will head a government delegation, accompanied by a trade and investment mission from key German companies interested in investing in the Egyptian market. In his remarks at the forum, El-Khatib reviewed economic and trade developments between Egypt and Germany, as well as the implemented reforms by the Egyptian government in fiscal, monetary, and trade policies. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
China's Hightx to invest EGP 851.7m in decorative fabrics plant in Qantara West
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), signed an agreement on Tuesday with Winlong Lu, Chairperson of Chinese decorative fabric and home textiles manufacturer Hightx, to launch the company's latest project in the Qantara West industrial zone. The new facility will span 65,000 square meters and involve a total investment of $17m (approximately EGP 851.7m), fully self-financed by Hightx. The project is expected to generate around 300 direct jobs and produce over 20m meters of fabric annually, with 100% of its output earmarked for export markets. Gamal El-Din hailed the Qantara West zone as a success story in attracting international investment and advancing Egypt's industrial capabilities. 'This agreement reflects growing investor confidence in Qantara West as a competitive hub for textile manufacturing and export-oriented industries,' he said. He emphasized that the new project aligns with SCZONE's broader strategy to foster industrial integration and expand Egypt's export base. The zone is already home to a cluster of textile-related operations, including spinning, weaving, ready-made garments, and decorative fabrics, creating a fully integrated supply chain. 'This synergy strengthens Egypt's position in global textile markets and reinforces our regional leadership in an industry rooted in experience and tradition,' Gamal El-Din added. With the addition of Hightx's investment, Qantara West now hosts 20 contracted projects with combined investments totaling $596.5m, generating more than 27,600 direct job opportunities. Its strategic location—between SCZONE ports on the Red Sea and Mediterranean, and near population centers rich in skilled labor—gives it a key advantage in attracting labor-intensive industries. Founded in Hangzhou, China, in 1990, Hightx has grown into a global leader in decorative fabrics and home textiles. The company operates across fabric design and production, furniture manufacturing, and hospitality services. It also maintains research and sales centers in the United States and runs furniture factories in both China and Vietnam.
Al-Ahram Weekly
20-05-2025
- Business
- Al-Ahram Weekly
SCZone, China's Hightex to build $17 mln fabric plant - Markets & Companies
The Suez Canal Economic Zone (SCZone) has signed a $17m agreement with China's Hightex Industrial to build a decorative fabric plant in the Qantara West Industrial Zone, boosting textile exports and deepening industrial ties with China. SCZone chairman Walid Gamal El-Din and Hightex chairman Wenlong Lu signed the deal. The self-financed facility will span 65,000 square-metres and aim to produce over 20 million metres of fabric annually, all for export. It is expected to create around 300 direct jobs. Gamal El-Din said the plant will be located near existing textile ventures in Qantara West, which it described as a 'success story' that has quickly attracted international investment in the fabric and garment sectors. With this deal, the number of contracted projects in Qantara West rises to 20, with total pledged investments of $596.5 million and more than 27,600 jobs. Gamal El-Din highlighted the zone's strategic location—between the Red Sea and Mediterranean ports and near population centres with available labour—as key to its appeal for labour-intensive industries. Founded in 1990 in Hangzhou, Hightex supplies decorative fabrics and home furnishings globally. It has research and sales hubs in the US and manufacturing operations in China and Vietnam. The agreement is the latest in a series of China-backed textile projects in the zone. On Sunday, SCZone signed a $15 million deal with Chinese firm GS Global Sourcing to establish a ready-made garment factory in Qantara West. In March, Chinese company Jiangsu Guotai signed a $10 million usufruct contract for another garment plant in the same zone. The plant is expected to create 2,000 jobs and export all its production. In late 2024, SCZone also broke ground on a $51million ready-made garment project in partnership with Turkey's Eroğlu Global Holding. Follow us on: Facebook Instagram Whatsapp Short link:
