Amun Ra Company Welcomes Chinese Delegations to Discuss Investment Opportunities in Egypt

Egypt - Cairo, – Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones, recently hosted two significant delegations from China, comprising representatives from both public and private sectors. This pivotal meeting focused on enhancing investment opportunities in the Egyptian market and advancing joint investment initiatives.

Over the course of two days, under the esteemed patronage of Eng. Moustafa Aldahshan, Chairman of Amun Ra Company, the General Authority for Investment welcomed a delegation from the Central Committee for Financial and Economic Affairs of China. The delegation was led by Mr. Yang Yinkai, Deputy Director, alongside Mr. Zhang Tao, Chargé d'Affaires of the Chinese Embassy in Cairo. Additionally, a group of Chinese investors from the textile sector, headed by Mr. Cao Jiachang, Chairman of the China Chamber of Commerce for Import and Export of Textiles, was in attendance.

The Central Committee for Financial and Economic Affairs of China, chaired by President Xi Jinping, plays a crucial role in supervising the nation's economic performance. The Chinese delegations emphasized the directive from their leadership to convert the political rapprochement and economic understandings between Egypt and China into tangible investment projects. This initiative follows President Abdel Fattah El-Sisi's visit to China in May and Prime Minister Dr. Mostafa Madbouly's participation in the 10th session of the Forum on China-Africa Cooperation (FOCAC) in Beijing last week.

Mr. Hossam Heiba remarked on the significant contributions of over 2,000 Chinese companies operating in Egypt, which have successfully facilitated technology transfer, created numerous job opportunities, and bolstered the country's foreign currency resources. He reaffirmed the Egyptian government’s commitment to supporting the expansion of Chinese investments.

In 2024, the General Authority for Investment announced its readiness to allocate new investment lands in New Alamein and New Minya across various sectors, with a focus on tourism, spinning and weaving, home appliances, renewable energy, and the automotive industry, particularly electric vehicles.

Moreover, Mr. Heiba noted that the General Authority is facilitating the establishment of companies in the Chinese Yuan, reflecting the government's aim to enhance coordination with China under the Belt and Road Initiative. He highlighted the goal of improving the trade balance through the slogan "Investment for Export," which is expected to further invigorate Chinese investments and tourism in Egypt.

Mr. Yang Yinkai expressed that President Xi Jinping is keen on deepening the investment partnership with Egypt under President El-Sisi's leadership, positioning Egypt as a regional hub for manufacturing and trade. He elaborated on the Chinese government's initiative to directly link free zones in both countries, thereby creating efficient value-added chains and expanding access to new markets.

Furthermore, Mr. Yang emphasized the Chinese population's enthusiasm for Egyptian tourism, as Egyptian civilization is integrated into educational curricula in China, fostering interest in visiting Egypt.

Mr. Cao Jiachang conveyed optimism about a substantial influx of Chinese investors, citing the attractiveness of the Egyptian market, streamlined procedures, and the efficiency of the local workforce, alongside notable infrastructure developments in recent years.

This dialogue marks a significant step towards strengthening the economic relationship between Egypt and China, fostering an environment ripe for mutual growth and investment.