Abou El-Enein: Chinese investments in Egypt reached $8 billion

Parliament Deputy Speaker MP Mohamed Abou El-Enein,  emphasized that the Middle East represents the future of global investment, pointing out to its unique geographic location and promising economic potential.

 He noted that Egypt welcomes Chinese companies and opens its doors to future industries.

During Abou El-Enein's speech at Sixth QINGDAO Multinationals Summit in China, he said that Egypt has established specialized industrial cities that have implemented more than 200 development projects. 

He also said that Egypt hosts Chinese investments estimated at $8 billion, and includes 3,000 Chinese factories and universities. He emphasized that Cairo is ready to receive more investors.

Moreover, he added that Egypt represents the Middle East and Africa's gateway to Europe, offering a duty-free industrial zone just an hour from the European continent and providing access to a regional market of approximately 2 billion people.

The Parliament deputy speaker also criticized US customs restrictions on Chinese products, noting that Arab countries represent a privileged outlet for Chinese exports, with a customs exemption rate of up to 10%. 

He called for strengthening industrial partnerships with countries in the region.