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China Daily Website

China's investments in Egypt increases by 60%

Updated: 2013-04-22 01:18
( Xinhua)

CAIRO - China's Ambassador to Egypt Song Aiguo said Sunday that the Chinese investments in Egypt increased by 60 percent over the past two years to exceed $500 million, an official source in the embassy told Xinhua.

During a tour in an industrial zone in Giza, Egypt, Song said that "the Chinese investments in Egypt over the past two years increased by about $200 million to exceed about $560 million in total."

Accompanied by Giza Governor Ali Abdel-Rahman, the Chinese delegation led by Song visited the headquarters of the industrial and investment zone in Abu Rawwash in Giza.

The Chinese ambassador described the new industrial zone as a step toward economic development in Egypt, expressing hope for broader relations between Egypt and China as agreed upon between the leaders of both countries.

For his part, the Governor of Giza said that the four-hour visit aimed to open horizons for more development and foreign investments in the governorate, stressing that Giza has promising investment capabilities due to its distinguished location and the variety of investment fields, including tourism, industry and agriculture.