{"id":640958,"date":"2017-09-10T04:06:44","date_gmt":"2017-09-10T04:06:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/10\/chinese-companies-announced-planned-investment-in-egypt\/"},"modified":"2017-09-10T04:06:44","modified_gmt":"2017-09-10T04:06:44","slug":"chinese-companies-announced-planned-investment-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/10\/chinese-companies-announced-planned-investment-in-egypt\/","title":{"rendered":"Chinese companies announced planned investment in Egypt"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>INVESTMENT WATCH- The fruits of President Abdel Fattah El Sisi\u2019s China trip continue <\/strong><strong>with the announcement of multiple new investments by Chinese corporations.<\/strong> These largely came on the back of Trade and Industry Minister Tarek Kabil staying put for talks after El Sisi left China for Vietnam last week <a href=\"https:\/\/enterprise.press\/stories\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\">after signing a number of multi-bn USD agreements<\/a>.<\/p>\n<p><strong>First off, the auto industry:<\/strong> Chinese automaker FAW Group will be building a minibus and pickup truck assembly factory in 10 Ramadan City with its Egyptian partner, Geyushi Motors, Kabil announced on Saturday. The plant, which will serve the local market and export to neighboring countries, is expected to begin production by March 2018, Kabil said after a meeting with FAW\u2019s vice chairman in Beijing yesterday. The minister also met with SAIC Motor\u2019s vice chairman to discuss the company\u2019s efforts to find a local partner to begin manufacturing cars in Egypt. <strong>The minister said that Egypt is looking to attract new investments of around USD 5 bn to the auto industry<\/strong> to help it achieve its vision of increasing car exports to USD 3 bn a year and produce 500k cars a year by 2022, <a href=\"https:\/\/www.africanindy.com\/business\/egypt-to-produce-500000-cars-per-year-with-5-bln-usd-investment-11124823\">according to African Independent<\/a>.<\/p>\n<p><strong>Next up, Chinese spinning and weaving companies TIDA and <\/strong><a href=\"http:\/\/www.amcham.org.eg\/online_services\/tas\/View_project_Free.asp?project_id=%7B8E033F80-BEDB-45A8-855E-DC4D5BA8FEE8%7D&sub_id=254\"><strong>Shoon Dong Roy<\/strong><\/a><strong> are <\/strong><strong>planning to invest USD 800 mn in a new ready-made garment factory<\/strong> in Egypt, <a href=\"http:\/\/www.youm7.com\/story\/2017\/9\/8\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D9%85%D8%B4%D8%A7%D9%88%D8%B1%D8%A7%D8%AA-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D8%AC%D9%85%D8%B9-%D8%B5%D9%86%D8%A7%D8%B9%D9%89-%D9%84%D9%84%D9%85%D9%86%D8%B3%D9%88%D8%AC%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D9%85%D9%84%D8%A7%D8%A8%D8%B3-%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-800-%D9%85%D9%84%D9%8A%D9%88%D9%86\/3403090\">sources tell Youm7<\/a>. The factory is part of the company\u2019s plan to expand its presence in Africa, the sources add, explaining that negotiations are currently ongoing with the Egyptian side. <a href=\"https:\/\/alborsanews.com\/2017\/09\/08\/1049610\">Al Borsa said<\/a> that a delegation of Chinese textile manufacturers is also planning to visit Egypt soon to explore potential investment what might be done here.<\/p>\n<p>China\u2019s fibreglass maker <a href=\"http:\/\/www.en.goshigiken.com\/about\/\"><strong>Goshi Giken<\/strong><\/a><strong> signed an agreement with the Suez Canal Economic <\/strong><strong>Zone that will see it spend USD 60 mn to expand its operations<\/strong> in Ain Sokhna, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1187875\">Al Masry Al Youm said on Thursday<\/a>.<\/p>\n<p><strong>Kabil also met with officials from SKG China,<\/strong> which is currently conducting studies for a potential home appliances plant it wants to build in Egypt, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1188249\">AMAY reports<\/a>.<\/p>\n<p><strong>The China Development Bank is planning to <\/strong><a href=\"http:\/\/almalnews.com\/Story\/345095\/14\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9--%D8%A7%D9%84%D8%B5%D9%8A%D9%86-%D8%AA%D9%85%D9%88%D9%84-12-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D9%8B--%D8%AC%D8%AF%D9%8A%D8%AF%D8%A7-%D8%A8%D9%85%D8%B5%D8%B1\"><strong>facilitate funding for Chinese industrial <\/strong><strong>projects<\/strong><\/a><strong> in Egypt<\/strong> under the Belt and Road initiative, Kabil also said. The minister said that China and Egypt have agreed on 12 main projects that will receive funding priority, including ones in electricity, transport, housing, industry, and communications.<strong> This came after Egypt <\/strong><a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1187845\"><strong>inked five MoUs<\/strong><\/a><strong> with China<\/strong> on Thursday that will see both countries cooperate on agricultural exports, IT, automaking, and fibreglass.<\/p>\n<p><strong>A little bit of context: <\/strong><a href=\"https:\/\/www.ft.com\/content\/788ea670-92f7-11e7-bdfa-eda243196c2c?segmentId=bc10e048-a5e6-5a6a-a3f6-70858663b23f\"><strong>China is now the largest foreign <\/strong><strong>investor in African greenfields<\/strong><\/a> as measured by capex volume (at USD 36.1 bn this year), followed by the UAE at USD 11 bn. The United States remains the largest by number of projects backed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT WATCH- The fruits of President Abdel Fattah El Sisi\u2019s China trip continue with the announcement of multiple new investments by Chinese corporations. These largely came on the back of Trade and Industry Minister Tarek Kabil staying put for talks after El Sisi left China for Vietnam last week after signing a number of multi-bn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640958","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5fe96b78-7478-432f-a9e7-296994aafb73","order":"0","is_powered_by":true,"section_story_id":"7e8a6b34-3228-4edb-9c03-04a983411c70","story_type":"1","photo_url":"","photo_position":"above","related_issue":[640950],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chinese companies announced planned investment in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/10\/chinese-companies-announced-planned-investment-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese companies announced planned investment in Egypt\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- The fruits of President Abdel Fattah El Sisi\u2019s China trip continue with the announcement of multiple new investments by Chinese corporations. 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Egypt is also in negotiations with China to export\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634916,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/29\/mars-to-inaugurate-egp-750-mn-expansion-by-februarys-end-kabil\/","url_meta":{"origin":640958,"position":1},"title":"Mars to inaugurate EGP 750 mn expansion by February\u2019s end -Kabil","author":"enterpriseam admin","date":"29 January 2018","format":false,"excerpt":"INVESTMENT WATCH: International confectionery producer Mars will inaugurate two new production lines by the end of February, Trade and Industry Minister Tarek Kabil said, according to Al Mal. The two lines come with a EGP 750 mn investment and help drive exports from its facilities in Egypt to USD 100\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634478,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/16\/kabil-announces-plans-for-largest-textile-industries-city-in-egypt\/","url_meta":{"origin":640958,"position":2},"title":"Kabil announces plans for largest textile industries city in Egypt","author":"enterpriseam admin","date":"16 January 2018","format":false,"excerpt":"Gov\u2019t announces USD 2 bn textiles city: Trade and Industry Minister Tarek Kabil announced plans yesterday to establish Egypt\u2019s largest textile project on a 3.1 mn sqm area in Sadat City, Al Mal reports. The project is expected to cost USD 2 bn to develop and will house 568 factories.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641394,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/20\/641394\/","url_meta":{"origin":640958,"position":3},"title":"China is expected to edge\u2026","author":"enterpriseam admin","date":"20 September 2017","format":false,"excerpt":"China is expected to edge out the European Union and become Egypt\u2019s \u201cfastest growinginvestment partner,\u201d Trade and Industry Minister Tarek Kabil tells Reuters in an interview. The minister pointed to the benefits Egypt stands to gain from the Belt and Road initiative, pointing out that negotiations were already ongoing \u201cwith\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636929,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/05\/kabil-meets-imf-for-review-of-economic-reform-program\/","url_meta":{"origin":640958,"position":4},"title":"Kabil meets IMF for review of economic reform program","author":"enterpriseam admin","date":"5 November 2017","format":false,"excerpt":"Trade and Industry Minister Tarek Kabil met on Thursday with the IMF delegationvisiting the country to conduct its second review of the economic reform program, Al Masry Al Youm reports. Discussions centered around the ministry\u2019s industrial and trade development strategies, with Kabil pointing to declining imports, better economic growth, and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647650,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/16\/egypt-will-be-the-guest-of-honor-at-the-china-arab-states-trade-fair\/","url_meta":{"origin":640958,"position":5},"title":"Egypt will be the guest of honor at the China-Arab States trade fair","author":"enterpriseam admin","date":"16 May 2017","format":false,"excerpt":"Egypt will be the guest of honor at the China-Arab States trade fair from 6-9 September in Yinchuan, Al Ahram quotes Trade and Industry Minister Tarek Kabil as having said. The Egyptian-Chinese Business Council is also expected to meet in Cairo sometime during the second half of the year, according\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/640958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=640958"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/640958\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/640950"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=640958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=640958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=640958"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=640958"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=640958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}