The General Authority for Investment and Free Zones has announced that Chinese companies have made substantial progress in Egypt, achieving significant milestones in investment, production, and job creation. Currently, around 2,066 Chinese companies operate in Egypt, with investments totaling nearly $8 billion across diverse sectors.
This investment momentum has contributed to Egypt becoming the top African destination for foreign investment, according to the Authority. Despite challenges from the Russian-Ukrainian conflict, Egypt attracted $10 billion in annual investments and ranked second in the Arab world for foreign direct investments, reaching $46 billion in the last fiscal year.
At a recent meeting with the Egyptian Businessmen Association and a delegation from China’s Linyi City, Yasser Abbas, Executive Vice President of the Authority, highlighted Egypt’s vital role in China’s “Belt and Road” initiative. Abbas noted that the strong strategic partnership and diplomatic ties between the Egyptian and Chinese governments continue to bolster trade and investment relations.
To further attract foreign investors, Egypt has established investor service centers, introduced golden licenses for priority projects, provided online services, and launched a platform for investment opportunities. Mohamed Youssef, Executive Director of the Egyptian Businessmen Association, emphasized that the Association is leveraging the Egypt-China Economic and Trade Cooperation Forum to promote new partnerships through bilateral discussions.
