Egypt keen on strengthening economic ties with China: Sisi to China Int’l Energy Group chairman

Ahram Online , Saturday 11 Mar 2023

President Abdel-Fattah El-Sisi asserted on Saturday Egypt's utmost keenness on strengthening economic and investment ties with China in various spheres.


The president’s remarks came in a meeting with the chairman of China International Energy Group (CIEG) and his accompanying delegation to review the expansion plans of the Chinese group in Egypt.

According to a statement released by the Spokesperson of the Egyptian Presidency Ahmed Fahmy, El-Sisi affirmed to the Chinese delegation the strong and distinguished relations binding Egypt and China.

El-Sisi also offered his congratulations to Chinese President Xi Jinping on his re-election for a new term.

Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mohamed Shaker and Minister of Civil Aviation Mohamed Abbas Helmy attended the meeting.

From his side, the chairman of CIEG affirmed during the meeting that his group’s investment expansion plans in Egypt come within the framework of the close ties binding the two countries.

The CIEG is planning to implement a mega project to produce green hydrogen in Egypt at a total investment between $5 to $8 billion, according to the statement.

The chairman praised the unprecedented development in Egypt's infrastructure as well as the remarkable progress in the road network, transportation, communications, new cities, seaports, and in the areas of desalination, water treatment plants, electricity as well as new and renewable energy.

He added that this progress provides new investment opportunities in Egypt, according to the statement.

According to recent figures released by the Central Agency for Public Mobilization and Statistics, China's total investments in Egypt in FY 2021/2022 rose to $563.4 up from $485.2 million in FY 2020/2021 – a 16 percent increase.

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