Chinese FDIs to Egypt hike by 350% in Q1 of 2019: Newly appointed ambassador

Hagar Omran
2 Min Read
The amount of Chinese foreign direct investments (FDIs) into the Egyptian market remarkably increased by 350% in the first quarter (Q1) of 2019  recording $40.6m, the newly appointed Chinese ambassador to Egypt, Liao Liqiang, said, during his first press conference that was hold on Thursday.
Chinese statistics show that the total amount of Chinese investment in Egypt exceed $7bn, the ambassador added, noting that he will continue the success that previous Chinese ambassadors achieved to promote bilateral relations with Egypt.
There are many key areas that Egypt and China are collaborating in, including educational projects, technology, culture and space, the ambassador highlighted, explaining that China assists Egypt in establishment of a new center for testing and assembling satellites.
“We are also cooperation with Egypt in the sectors of renewable energy and generating electricity from coal,” he said, noting that he received about seven business delegations that are very keen on boosting business cooperation with Egypt.
The ambassador added that he met several ministers in Egypt including Minister of Investment and International Cooperation, Sahar Nasr, Minister of Higher Education, Khaled Abdel Ghaffar, noting he also visited the Suez Canal zone in Ain Al-Sokhna where he met with the Chinese investors.
The ambassador said that he met with the Egyptian Parliament speaker, Ali Abdel Aal, who recently visited China and who was very impressed by the electric train in China.
China pays attention to building the capacity of Egyptian youth, the ambassador asserted, noting that about 616 Egyptian young people travelled to China last year to attend training courses.
“I have a very strong desire to help Egyptian people to learn the Chinese language,” the ambassador shared, praising the Emirate authorities that pay increasing attention to teaching the Chinese language to Emirati people.
Additionally, the Chinese GDP grew by 6.3% recording about $6.5tn in the first half of 2019, the ambassador e.mphasisde
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