Egyptian investment and international cooperation minister Sahar Nasr and Ambassador of China to Cairo Song Aiguo held a meeting to discuss pouring new Chinese investments into Egypt.
The two parties, in coordination with the Egyptian Chinese Business Council (ECBC), also discussed the attraction of further Chinese investments to Egypt, in addition to Chinese grants to the North African nation in a bid to support development projects, according to the ministry’s statement on Sunday.
During the meeting, both parties considered the benefits of the Belt and Road Initiative, the Silk Road Economic Belt, along with the advantages of Egypt’s membership in the Asian Infrastructure Investment Bank (AIIB).
Nasr stressed Egypt’s keenness to draw new Chinese investment in different fields, making China among 10 top investors in the Arab world’s most populous country.
Around 1,558 Chinese companies are operating in Egypt, which aims to attract further companies in information technology, electricity, telecommunication, and transportation sectors.