24 Hrs
Source:
الشرق اللبنانية
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Xi Jinping promotes China-Egypt manufacturing partnership
The Egyptian-Chinese presidential visit focused on strengthening economic and industrial cooperation between the two countries through the signing of more than 20 agreements and memoranda of understanding. The goal is to shift the relationship from reliance on trade and projects to local manufacturing, technology transfer, and supply chains. Among the most prominent agreements was the launch of the third phase of expansion of the Suez Canal Industrial Zone, targeting renewable energy, automotive, and textiles sectors, with Chinese investments totaling around $4 billion in the area. Additionally, a letter of intent was signed to establish a tire factory in Sukhna, with an estimated investment of $500 million. A memorandum of understanding was also signed between the "Mansour Group" and "Tianneng" to explore opportunities for manufacturing car batteries and energy storage, with a focus on enhancing industries that support electric vehicles.
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