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Xi Jinping's Visit Boosts Egyptian Investments
Deputy Mohamed El-Gendy emphasized that the upcoming visit of Chinese President Xi Jinping to Egypt represents a significant turning point in the relations between the two countries. It provides an opportunity to greatly strengthen economic and investment cooperation. The main objectives focus on expanding Chinese projects in Egypt, especially in the sectors of industry, energy, and transportation, with an aim to increase Chinese investments to $30 billion by 2030. Egypt also seeks to leverage its position as a key ally in the Belt and Road Initiative and its membership in BRICS to enhance financial and commercial cooperation, achieve sustainable development, transfer technology, and localize modern industries. These efforts are intended to benefit the Egyptian economy and reinforce Egypt's status as a regional hub for trade between the East and the West.
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