Over 2,800 Chinese Firms Invest USD 8 Billion in Egypt

Chinese Investment in Egypt Exceeds $8 Billion, Driven by New Projects and Licenses
Over 2,800 Chinese companies have invested more than $8 billion in Egypt, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Major Chinese tech and manufacturing firms like Huawei, Haier, Midea, ZTE, and OPPO are key players, reflecting growing confidence evidenced by an increasing number of new licenses issued to Chinese businesses.

Strategic Sector Focus and Major Projects
GAFI is strategically targeting sectors such as automotive, electronics, artificial intelligence, textiles, and renewable energy. This aligns with Egypt's national ambition to become a regional hub for manufacturing and technology. Notable ongoing projects include a $300 million car assembly plant by China's GAC Motor and the establishment of the Chinese Textile City in Minya Governorate.

Companies like Haier, Midea, and Shanfeng are among the first to benefit from Egypt's 'golden license', a fast-track permit designed to simplify investment procedures and reduce bureaucracy for strategic ventures.

Deepening Bilateral Economic Cooperation
Heiba discussed these developments during a meeting with Guangdong Province Governor Wang Weizhong in Cairo. Egypt has also confirmed its participation in two upcoming key events: the China-Africa Investment Forum in July and the Egypt-China Investment Forum in November. Both forums are expected to further strengthen economic ties between the two nations.