The number of Chinese tourists who visited Egypt nearly doubled y-o-y in 1H2017, Cairo’s ambassador to Beijing, Osama Elmagdoub, tells Global Times in an interview. While China has steadily grown to become Egypt’s fourth largest tourist supplier in 2017, the size of Chinese investments in the country is still fairly small. The potential for expansion remains high, though, Elmaghdoub notes, adding that “Egypt aspires to push bilateral cooperation in various fields, such as development and infrastructure projects that align with the Belt and Road Initiative.” China is also the largest investor in the Suez Canal Economic Zone and has major projects slated for the new administrative capital.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…