Hassan Fahmy, Chairman of the General Authority for Investment and Free Zones, said there are 1,220 Chinese companies working in Egypt with a total investment of $500 million.
Speaking at a Sino-Egyptian business forum, Fahmy said China ranks number 24 among foreign countries investing in Egypt. “We hope it moves to the first 10,” he said.
“We aim to benefit more from Chinese investments abroad, which are estimated at $275 billion,” he said, adding that bilateral trade is estimated at $7 billion, including $3.3 billion in the first quarter of this year.
