27 May 2024 07:26 PM

Egypt's activities

Tuesday، 16 May 2017 04:37 PM

May 14

- The forum's opening session was inaugurated by the Chinese president and attended by 30 heads of state and representatives from 110 states and 60 international organizations. A high-profile Egyptian delegation is participated in the forum including Minister of Investment and International Cooperation Sahar Nasr, Chairman of the General Federation of Egyptian Chambers of Commerce, Transport Minister's Adviser Ambassador Mahmoud Allam and a galaxy of economic experts. 

- Egypt's participation in the Belt and Road initiative in Beijing reflects close partnership with China and its commitment to broaden cooperation with all its international partners in the forum, said Investment and International Cooperation Minister Sahar Nasr . 

Egypt's role in the Silk Road initiative is crucial given its distinguished geographical location, she added in a high-level session held at the forum on Sunday .

- Minister of Trade and Industry Tareq Qabil asserted that trade and economic relations between Egypt and China have recently witnessed a big leap and reached the level of strategic partnership. Addressing a symposium held on the fringe of the Belt and Road Summit in Beijing, the minister said the visit of President Abdel Fattah El Sisi to Beijing in 2014 has greatly contributed to regaining confidence of the Chinese investors in the Egyptian market, noting that the government was keen on pushing forward joint trade and investment projects between the two countries in the coming phase.

Qabil reiterated the importance of the economic initiatives of the New Belt and Road routes, especially in view of the several challenges facing the world economy and international trade movement. He also said that Egypt has taken the lead in supporting the economic initiatives of the Belt and Road Forum in cooperation with the Chinese government. The minister also noted that the national project to develop the Suez Canal corridor comes in line with the Belt and Road initiative with the aim of pumping new investments to the Suez Canal to ease trade movement.

May 15

- Investment Minister Sahar Nasr was interviewed by China's state television CCTV on Monday . Nasr reviewed, during the interview that came on the sidelines of the Belt and Road Forum, investment opportunities in Egypt in light of the new investment law . She called on Chinese investors to increase their investments in Egypt. The interview also tackled economic ties between Egypt and China.

- Nasr attended the signing ceremony of five agreements during Beijing Investment Forum. The agreements include cooperation between the General Authority for the Economic Zone of the Suez Canal and the China-Africa Development Fund and the Port of Chengdu. The agreements also include the establishment of a unity between Egypt and China to test the satellites between the National Authority for Remote Sensing and Space Sciences and the China National Space Administration (CNSA). Nasr also attended the signing ceremony of a finance agreement, worth $500 million, between China Development Bank and Banque du Caire.

- Nasr further met with senior Chinese investors on the sidelines of the forum.  She also invited Chinese investors to do business in Egypt in several mega development projects, including the new administrative capital and several projects in infrastructure, construction, energy and transportation. 

- Nasr paid a visit to the headquarters of China Fortune Land Development Company (CFLD) in Ji'an city in the central region of Jiangxi province.

- Nasr met Monday with chairperson of the Silk Road Fund Jin Qi to discuss loans offered by the (SRF) to countries along the Silk Road. The meeting, held on the fringe of the Belt and Road Forum in Beijing, also tackled possible cooperation with a number of international funding institutions to support projects between the government and private sector, a statement by the Investment Ministry said .  The SRF will bankroll Chinese investments in Egypt, particularly in the fields of infrastructure and construction, as well as Public-Private Partnership (PPP) projects, the statement noted.

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