CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), Mohamed Awad, chaired on Thursday the first meeting of the Egyptian-Chinese Committee for Business and Investment Promotion with a main aim of strengthening economic and investment partnerships and supporting companies operating in the Egyptian market.
Ambassador of the People’s Republic of China to Egypt, Ambassador Liao Liqiang, and representatives of Chinese companies and relevant authorities from both countries were present at the meeting.
During the meeting, GAFI CEO said the committee’s establishment represents an important step towards deepening the Egyptian-Chinese investment partnership and creating direct channels of dialogue with the Chinese business community.
He stressed that the committee would help identify challenges facing Chinese companies, coordinate with relevant government bodies to address them and support their expansion plans in Egypt.
Awad also noted that around 3,366 Chinese companies are currently investing in Egypt across a range of key sectors, including spinning and weaving, textiles, ready-made garments, solar panels, chemical industries, automotive manufacturing and logistics services.
GAFI has established a dedicated unit for Chinese investments to monitor the needs of these companies, coordinate with government authorities, overcome obstacles and provide practical and rapid solutions, he added.
Facilitating investors’ operations and responding directly to their concerns, he stressed, remain among the authority’s key priorities.
During the meeting, representatives of 10 Chinese companies presented the main challenges affecting their operations in Egypt, together with a number of proposals.
Representatives of the relevant government bodies reviewed the issues raised and discussed the necessary measures to address them.
For his part, Ambassador Liao underscored the importance of maintaining direct dialogue between the two sides, commending GAFI’s efforts to support Chinese companies and establish effective communication channels.
He described the committee as an important mechanism for identifying investors’ needs and resolving the challenges they face.
The ambassador expressed hope that the committee’s work would facilitate the expansion of existing Chinese companies and attract further investment, particularly in production and export-oriented sectors.
