Vice Minister Ling Ji and Deputy Representative for International Trade Negotiations Attended the First China Egypt Investment Forum in Cairo

On November 9th, the first China Egypt Investment Forum was held in Cairo, Egypt. Vice Minister of Commerce and Deputy Representative for International Trade Negotiations Ling Ji, Chinese Ambassador to Egypt Liao Liqiang, Egyptian Minister of Investment and Foreign Trade Khatib, Deputy Speaker of the House Abu Aining, and Secretary General of the Entrepreneurs Association Manzalawi attended and delivered speeches. Nearly 400 representatives from Chinese and Egyptian enterprises and business associations attended the forum.

Ling Ji stated that under the strategic guidance of the two heads of state, the economic and trade relations between China and Egypt have steadily and healthily developed. Holding the China Egypt Investment Forum is a concrete measure to implement the important consensus reached by the leaders of the two countries. China is willing to deepen its development strategy docking with Egypt, strengthen cooperation in the production and supply chain, consolidate the advantages of traditional industries such as textiles, home appliances, equipment manufacturing, and petrochemicals, seize opportunities for cooperation in emerging industries such as photovoltaics, wind power, and new energy vehicles, tap into the potential for future industrial cooperation in information technology, cloud computing, artificial intelligence, smart cities, and other fields, and promote high-quality development of investment cooperation between the two countries.

Hatib stated that China is Egypt's largest trading partner and major source of foreign investment. The Egypt China Investment Forum provides a good platform for deepening trade and investment cooperation between the two countries and connecting new investment projects. The Egyptian side advocates free trade and opening up to the outside world, is committed to improving the business environment, strengthening the guarantee of land, electricity and other factors, improving customs clearance efficiency, and hopes to attract more Chinese enterprises to invest in renewable energy, electric vehicles, digital economy and other fields in Egypt. To this end, the Egyptian government has established a cross departmental Chinese investment special team.

The forum had lively on-site exchanges and enthusiastic connections. The investment management department of Egypt held a roundtable dialogue on investment policies, where representatives from investment professional institutions and Chinese enterprises had in-depth exchanges and discussions. Organize three sub forums respectively on textile and clothing, electromechanical and new energy, and digital economy. Chinese companies have stated that in recent years, the business environment in Egypt has continued to improve, with significant geographical advantages and a wide range of investment areas. This forum is held at the right time and will seize the good opportunity of investing in Egypt.

During the forum, Ling Ji co chaired the first meeting of the China Egypt Investment Cooperation Working Group with Haiba, Chairman of the Egyptian Investment and Free Zone Authority.