Latest news with #WangWeizhong
Zawya
20-05-2025
- Business
- Zawya
Egypt attracts $8bln in Chinese investment from 2,800 companies
Arab Finance: The number of Chinese companies operating in Egypt has reached approximately 2,800, with total investment costs exceeding $8 billion, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), stated. Heiba's remarks came during his meeting with Wang Weizhong, Governor of Guangdong Province, along with a number of officials from Chinese companies seeking to invest in the Egyptian market. The government is devoting special attention to Chinese investments, as they aim to transfer Chinese technology to Egypt and provide labor-intensive employment, Heiba noted. He revealed that the GAFI plans to establish a complete Chinese textile city in Minya Governorate, adding that three Chinese companies were granted golden licenses to operate in Egypt. The two sides discussed the investment cooperation agenda for the second half (H2) of 2025, which includes the Ministry of Investment and Foreign Trade's participation in the World Economic Forum, which will be held in Tianjin from June 24th to 26th. Furthermore, the Egyptian-Chinese Investment Forum will be held in Cairo next July, with the participation of Chinese Vice Minister of Commerce and International Trade Wang Shouwen. On his part, Feng Xingya, Chairman of Guangzhou Automobile Group (CAG), unveiled the company's plans to invest $300 million for establishing an automotive factory in Egypt to meet local market needs and export. Xu Ziyang, CEO of ZTE, rolled out plans to expand the company's business in the Egyptian market and localize Chinese technology in the country. This comes amid high demand from Egyptian telecom firms for developing the telecommunications infrastructure. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
20-05-2025
- Business
- Zawya
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. (
Zawya
19-05-2025
- Business
- Zawya
Egypt's SCZone Chairperson, Guangdong Governor discuss deeper cooperation
Egypt - The Chairperson of Egypt's Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, met with a high-level delegation from China's Guangdong Province, led by its Governor Wang Weizhong, to discuss enhancing joint cooperation, the SCZone announced in a statement. The purpose of the meeting was to explore collaboration in the industrial, logistics, services, and port sectors. The Chinese delegation included Minister Plenipotentiary Jiao Liusheng, Counselor at the Chinese Embassy, several provincial officials, and representatives from major Chinese corporations. SCZone executive leadership also attended. Gamal El-Din stated that 'the SCZone is keen on deepening cooperation with Chinese investments from various Chinese cities and provinces.' He added that this aims 'to optimally leverage the successful strategic partnership with Chinese companies already operating within the zone, a partnership supported by the political leadership of both nations.' 'We aim to build on successful past partnerships with Chinese investments and seek further collaboration,' Gamal El-Din said, according to the statement. He noted that current cooperation 'encompasses ports, industrial zones, and logistics areas,' and highlighted 'the past successes of Chinese companies and the diversity of Chinese investments in sectors targeted for localisation under the SCZone's strategy.' He also 'affirmed his aspiration for cooperation in other areas critical to both the Egyptian and global economies, such as the automotive sector, renewable energy, and technology.' In turn, the Governor of Guangdong Province, Wang Weizhong, 'expressed his satisfaction with the cooperation with the SCZone.' He 'emphasized the importance of having company representatives from the province present to explore investment opportunities within the SCZone' and 'commended the SCZone's role in fostering an attractive investment climate for Chinese companies,' the statement reported. 'The Suez Canal Economic Zone boasts a prime location and significant investment incentives; we encourage companies from our province to invest there,' Governor Wang Weizhong stated. He explained that 'the zone serves as a global centre for industry and logistics and a launchpad for Egyptian exports to international markets, particularly given its strategic location and existing free and international trade agreements.' The Governor further 'noted his country's commitment to full cooperation and experience-sharing with the SCZone, and to advancing the strategic partnership between the two nations to even broader horizons.'
Daily News Egypt
18-05-2025
- Business
- Daily News Egypt
Egypt's SCZone Chairperson, Guangdong Governor discuss deeper cooperation
The Chairperson of Egypt's Suez Canal Economic Zone (SCZone), Walid Gamal El-Din, met with a high-level delegation from China's Guangdong Province, led by its Governor Wang Weizhong, to discuss enhancing joint cooperation, the SCZone announced in a statement. The purpose of the meeting was to explore collaboration in the industrial, logistics, services, and port sectors. The Chinese delegation included Minister Plenipotentiary Jiao Liusheng, Counselor at the Chinese Embassy, several provincial officials, and representatives from major Chinese corporations. SCZone executive leadership also attended. Gamal El-Din stated that 'the SCZone is keen on deepening cooperation with Chinese investments from various Chinese cities and provinces.' He added that this aims 'to optimally leverage the successful strategic partnership with Chinese companies already operating within the zone, a partnership supported by the political leadership of both nations.' 'We aim to build on successful past partnerships with Chinese investments and seek further collaboration,' Gamal El-Din said, according to the statement. He noted that current cooperation 'encompasses ports, industrial zones, and logistics areas,' and highlighted 'the past successes of Chinese companies and the diversity of Chinese investments in sectors targeted for localisation under the SCZone's strategy.' He also 'affirmed his aspiration for cooperation in other areas critical to both the Egyptian and global economies, such as the automotive sector, renewable energy, and technology.' In turn, the Governor of Guangdong Province, Wang Weizhong, 'expressed his satisfaction with the cooperation with the SCZone.' He 'emphasized the importance of having company representatives from the province present to explore investment opportunities within the SCZone' and 'commended the SCZone's role in fostering an attractive investment climate for Chinese companies,' the statement reported. 'The Suez Canal Economic Zone boasts a prime location and significant investment incentives; we encourage companies from our province to invest there,' Governor Wang Weizhong stated. He explained that 'the zone serves as a global centre for industry and logistics and a launchpad for Egyptian exports to international markets, particularly given its strategic location and existing free and international trade agreements.' The Governor further 'noted his country's commitment to full cooperation and experience-sharing with the SCZone, and to advancing the strategic partnership between the two nations to even broader horizons.'
Associated Press
09-03-2025
- Business
- Associated Press
Guangdong Showcases Openness, Confidence, and Leadership in Economic Modernization
On March 6, 2025, the Guangdong Delegation to the third session of the 14th National People's Congress held a plenary meeting, attracting 267 journalists from 107 domestic and international media outlets. Led by Provincial Party Secretary Huang Kunming and Governor Wang Weizhong, the delegation addressed key questions on Guangdong's role in advancing Chinese modernization and economic development. This press release features multimedia. View the full release here: A plenary meeting of the Guangdong Delegation to the Third Session of the 14th National People's Congress takes place on the afternoon of March 6, drawing 267 journalists from 107 domestic and international media organizations. (Photo: Business Wire) Guangdong's Industrial Strategy and Innovation Leadership When asked about Guangdong's approach to building a modern industrial system, Huang Kunming emphasized the province's commitment to integrating technological innovation with industrial advancement. Guangdong boasts a comprehensive industrial base covering all 31 major manufacturing sectors, with nine trillion-yuan-level industrial clusters. Innovation and infrastructure remain key drivers, ensuring rapid commercialization of research and development. In 2024, Guangdong's trade volume reached 9 trillion yuan ($1.2 trillion), reinforcing its global economic position. To strengthen its talent pool, the province launched the Action Plan for Attracting a Million Talents to South Guangdong, aiming to recruit one million college graduates for employment and entrepreneurship opportunities. Deepening Integration in the Greater Bay Area Addressing collaboration with Hong Kong and Macao, Wang Weizhong highlighted the Greater Bay Area's economic significance. Despite covering less than 1% of China's land and housing only 6% of its population, the region contributes one-ninth of the national GDP. In 2024, the Greater Bay Area's GDP reached 14.5 trillion yuan ($2 trillion), marking a 3.7 trillion yuan ($511 billion) increase since 2018. Hengqin continues to be a pivotal platform for Macao's economic diversification. From 2009 to 2024, its GDP soared from 285 million yuan ($39 million) to 53.8 billion yuan ($7.4 billion), with Macao-funded enterprises increasing more than 400-fold. Today, high-tech industries—including new materials, new energy, advanced equipment, and biomedicine—comprise 59.4% of Hengqin's industrial output. Guangdong's Commitment to Openness and Global Engagement The 'Open Day' format provided a transparent platform for Guangdong to showcase its economic progress and global partnerships. As China's top economic province, Guangdong reaffirmed its leadership by embracing innovation, openness, and sustainable growth, reinforcing its pivotal role in national and global development. KEYWORD: HONG KONG CHINA MACAU ASIA PACIFIC SOURCE: Guangdong Province Copyright Business Wire 2025. PUB: 03/08/2025 08:41 PM/DISC: 03/08/2025 08:42 PM
