Winning a bid to develop the North West Suez Economic Zone, a Chinese company, Tiida Egypt, is seeking to boost cooperation with the North West of Suez general authority to increase investments in the area, says Huang Xingguo, the mayor of Tainjin, where the firm initiated.

At a meeting with Egyptian Investment Minister Mahmoud Mohieldin Thursday 10/9/2009, Huang said Beijing will be offering a dlrs-20-million grant to establish an investment-service building in the area.

Indeed the project will attract investors, but, according to Mohieldin, it is also important given the many jobs it is expected to create.

Chinese investments in Egypt have recently increased with the Asian country having shares in 865 Egyptian companies.

Bit by bit, China is getting closer to becoming one of the biggest investors in Egypt.