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El Khatib’s time in Shanghai bears fruit: Chinese players, across sectors, expressed their interest in pouring fresh investments into the local market. This came during meetings between Investment Minister Hassan El Khatib and representatives from major Chinese players during El Khatib’s time in Shanghai.
From textile players: Zhejiang Holding is planning to invest an initial USD 20 mn in Egypt’s garment and textile sector, with the goal of scaling up to USD 50 mn over the next five years and Jiangsu Haite Fashion wants to build a USD 20 mn garment factory, aiming to tap into the country’s freetrade agreements for exports to Europe and the US.
Chinese textile players have been loving the local market with a long list of Chinese players having inked agreements to set up textile factories in the Qantara West Industrial Zone over the past period, including Hightex Co., Ltd Hangzhou, GS Global Sourcing, Guangdong Hongxin Textile, Top New Garment Group, Jiangsu Guotai, and Di Seta.
Beyond textile: Stationery manufacturer Deli Group, currently developing a USD 200 mn industrial complex in the Tenth of Ramadan, has requested additional land to expand its operations with a new paper printing machine production line.
In the energy sector, El Khatib met with the deputy director of Zhongman Petroleum and Natural Gas Group to discuss prospects in oil and gas exploration and drilling services. He also reviewed cooperation possibilities with Longi Green Energy on solar panel manufacturing and renewable energy technology transfer.
That’s not all: El Khatib also took part in roundtables covering the automotive, water treatment, sustainable energy, mining, and petrochemicals sectors. He also participated in the World Economic Forum and the Egyptian-Chinese Business Forum, according to a ministry statement.
MoUs were inked to support cross-border investments: Two MoUs were renewed during El Khatib’s visit — one to boost bilateral investment and another to support Chinese firms looking to invest in Egyptian infrastructure and manufacturing.
