Egyptian Tycoon Mohamed Abou El-Enein, Chairman of the Egyptian-European Business Council, received at his home, Liao Li Chang, the Chinese ambassador to Cairo and Xiao Junjing, the Chinese plenipotentiary minister.
The meeting was also attended by Liu Aimin, chairman of China-Africa TEDA Investment Co. Ltd and Mahmoud Karem, Egypt's former ambassador to the European Union, in addition to a number of advisers to the Chinese embassy.
On Tuesday evening, Abou El-Enein held a dinner banquet in the honor of the Chinese ambassador, who stressed his country's keenness to boost Egyptian-Chinese relations and benefit from the remarkable improvement in the investment climate in Egypt, pointing out that a big number of Chinese companies are looking forward to increasing their investments in Egypt.
Liao Li Chang also praised the role played by President Abdel-Fattah El-Sisi in achieving a great economic boom and attracting more and more investments, stressing that Egypt is the “equalizing force” for Chinese investments in the Middle East and Africa.
He noted that China is keen to increase cooperation with Egypt and Africa to develop industries.
On his part, Abou El-Enein affirmed that the Chinese and world investment opportunities in Egypt are witnessing a promising environment, especially in light of the depth and strength of Egyptian-Chinese relations at all levels.
He pointed out that the strong relationship between President Sisi and his Chinese counterpart Xi Jinping has given a strong impetus to the growing cooperation between the two countries, especially at the economic level.
The president of the Cleopatra Real Estate Company added that the volume of Chinese investments in Egypt doubled during the past 5 years to reach $ 7 billion annually, pointing out that there are around 1660 Chinese companies operating in the Egyptian economic sectors with capital investments estimated at $ 1.1 billion.
Abou El-Enein urged Chinese companies to boost their investments in Egypt and take advantage of the incentives offered by Egyptian partnership agreements signed with European, African, Arab and Latin American countries.
He also hailed the establishment of specialized Chinese industrial cities and carrying out small and medium enterprises, stressing that the Chinese investments benefited the Egyptian economy through enhancing technology transfer, qualifying workers and creating added value for the local economy.
The high-profile businessman called on Egyptian companies to benefit from the Chinese companies’ expertise and intensify cooperation with them in the coming period, noting that the Egyptian private sector is very keen to cooperate with those companies.
The President of the Egyptian-European Business Council called for holding a meeting among representatives of major Chinese and Egyptian private companies in order to increase cooperation, trade, and investments between the two sides in various economic fields.
Abou El-Enein confirmed that President Sisi, in all his foreign trips, is keen to meet heads of major international companies to support investment in Egypt.
He also expressed his hope that Egypt will join the fourth industrial revolution of robots and artificial intelligence soon, adding that his country will be an influential global center in the field of communications and information technology
Abou El-Enein pointed out that President Sisi, during the last period, paid much attention to the Egyptian economic file, with a view to enhancing the investment climate in Egypt through drafting a new investment law aimed at facilitating the industrial investment climate and announcing 2020 a year of industry.
Meanwhile, Liu Aimin said that Egypt has competitive investment opportunities, noting that the Suez Canal Economic Zone is an ideal environment for more Chinese investments.
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