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Investment forum highlights trade and cooperation between China and Egypt

By Ren Jie | | Updated: 2017-05-19 18:23

China's Belt and Road Forum for International Cooperation didn't just present an integrated economic and financial vision - it also opened up new horizons for communication and cultural exchanges among the peoples of countries related to the initiative, Egypt’s Ambassador to China Osama Al-Magdoub said.

The ambassador made the comment during the Egyptian-Chinese Investment Forum: Suez Canal the Gateway to the Silk Road this week, adding that the forum will be the beginning of more cooperation projects and partnerships between Egypt and China.

Present at the forum were Egypt's Investment and International Cooperation Minister Sahar Nasr and Trade and Industry Minister Eng. Tarek Qabeel. More than 200 Chinese companies operating in Egypt, such as TEDA and Jiushi, and companies looking forward to invest in the country, also attended.

Egypt has passed a new investment law to enable potential investors to register companies and obtain the necessary licenses in no longer than two weeks, Nasr said during her speech at the forum.

Qabeel called on Chinese companies to invest in Egypt. The Ministry of Trade and Industry has launched a strategy for promoting industrial development and foreign trade to comply with the Egyptian government's target for sustainable development, he said.

Six agreements relating to subjects including investment in fundamental infrastructure, finance and satellite technology, and cooperation between Egyptian and Chinese parties, were also signed during the forum.

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