China’s JAC Motors, Hawtai planning to increase investments in Egypt

China’s Hawtai is looking to invest as much as USD 1 bn in Egypt’s auto manufacturing and component industries, the head of the company’s international department Jeffrey Zhang told Trade and Industry Minister Tarek Kabil, Ahram Gate reports. Kabil also met with deputy manager of JAC Motors’ international trade division Steven Wang, who told the minister that the Chinese company is studying setting up a factory in Egypt to expand its investments in Africa. Kabil invited both officials to visit Egypt soon to further discuss the projects.