Egypt Receives $5 Billion Investment from China

Egyptian Prime Minister Mostafa Madbouli said the state is focused on maximizing local product and reducing import costs by storming all industries imported from abroad.

Madbouli added on the sidelines of an inspection tour of a number of projects in the Suez Canal Economic Zone: The head of a Chinese-Egyptian company in the economic zone told me that 7 Chinese companies, among the largest in the world, have shown great interest in investing in Egypt by moving their factories or expanding their activities that will cost $5 billion over the next 3 years.

He explained that industry and agriculture are the state’s top priorities, explaining that the state is committed to encouraging the private sector, explaining that Egyptian President Abdel Fattah El-Sisi has led the storm on the various industries that Egypt imports from abroad, that the private sector is not can enter.

Madbouli added on the sidelines of an inspection tour of a number of projects in the Suez Canal Economic Zone: “Today we inspected 10 projects, including 8 factories.

Source: RT

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