Egypt Strengthens Ties with China, Focuses on Investment and Green Hydrogen Production
Key Ideas
  • Deputy Executive President of GAFI reiterated Egypt's interest in enhancing relations with China and attracting Chinese investors to the Egyptian market.
  • Egypt and China discussed investment opportunities in Suez Canal Economic Zone and green hydrogen production, a regional focus for the Middle East and Africa.
  • Partnership possibilities in the small and medium-sized enterprises sector were also explored, highlighting the role of agencies in supporting startups.
  • GAFI detailed the facilitations available to investors, including the golden license providing comprehensive approval for project setup and management.
Deputy Executive President of the General Authority of Free Zones and Investment (GAFI), Yasser Abbas, restated Egypt's commitment to strengthening ties with China and attracting Chinese investments. The focus was on a high-level Chinese delegation representing 40 companies, with discussions revolving around the historic relations between Egypt and China. Egypt being the first Arab and African nation to recognize the Republic of China added a significant historical context to the talks. The meeting highlighted the available investment prospects in Egypt, especially in the Suez Canal Economic Zone, which is a key point in the Belt and Road Initiative (BRI). Additionally, the emphasis was placed on green hydrogen production in the region, positioning Egypt as a hub for such initiatives in the Middle East and Africa. The parties also delved into potential partnerships within the small and medium-sized enterprises sector, underlining the vital role played by agencies supporting startups, like the small, medium, and micro enterprises development agency. GAFI outlined the various facilitations provided to investors, such as the golden license, offering a comprehensive approval process for project establishment and operation.
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