24 Hrs
Source:
الشورى
China boosts Egyptian economy with $20B trade and $10B investments
The article discusses China's efforts to strengthen its economic and investment partnership with Egypt, especially following the visit of Chinese President Xi Jinping. The trade volume between the two countries is estimated at $20 billion annually, while Chinese investments in Egypt exceed $10 billion. The article also highlights strategic projects such as the development of a logistics and commercial city spanning 3 million square meters at a cost of $2 billion. This project is expected to boost trade and create up to 150,000 jobs. Chinese investments are increasingly directed towards future-oriented sectors like technology and clean energy, with memoranda of understanding and collaborations in battery manufacturing and electric vehicles. Ongoing development in infrastructure and financial cooperation aims to transform Egypt into a regional hub for trade and modern industries.
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