_1777352142843_145525226.png&w=48&q=75){kind=small}
Tax Experts: Egypt to Earn $30B from China Cooperation
The Egyptian Tax Experts Association has affirmed that strengthening economic cooperation with China could add approximately 30 billion dollars in investments to Egypt, contribute to technology localization, support domestic manufacturing, and create a greater balance in the trade relationship between the two countries. Chinese investments in Egypt have exceeded 10 billion dollars, encompassing over 3,366 companies operating in vital sectors such as electronics, textiles, engineering, logistics, and construction. Egypt plans to increase the number of Chinese companies in the China-Egypt Suez Economic and Trade Zone "Teda" to 1,000 firms with investments nearing 25 billion dollars. Additionally, there are plans to establish two industrial cities specializing in textiles and garments in Minya and Fayoum, with investments totaling up to 4 billion dollars. The association also proposed updating the economic agreements between the two nations and activating the use of the Chinese yuan in exchange for the Egyptian pound to reduce currency exchange costs and financial risks, aiming to attract more Chinese investments and bolster trade exchanges between Egypt and China.
Notice: This Is an AI-Generated Summary
Comments (0)