The Chinese delegation showed interest in transportation and other sectors
The chief executive of the General Authority for Investment and Free zones (GAFI), Alaa Omar, met with a delegation of 16 Chinese companies on 21 April, according to a statement from the authority.
The meeting is part of the Chinese delegations visit to Egypt to measure the viability of investment in Egypt, as well as discuss opportunities for cooperation in areas of common interest, said the statement.
Omar was quoted saying [he] expressed Egyptian interest in increasing Chinese investments as part of strengthening economic ties with China and forming a comprehensive strategic partnership between the two countries.
The Chinese delegation showed interest in transportation through mass transit buses, the construction materials industry, as well as the possibility of cooperation in the sector of electric elevators.
The delegation also showed interest in identifying investment opportunities in the new administrative capital project, according to the statement.
During the meeting, the two sides agreed on arranging meetings between Chinese companies and the relevant Egyptian authorities during an upcoming visit to Egypt.
There are 1,230 Chinese companies operating in Egypt, with a total capital of $550m.