Egyptian prime minister courted Chinese Investment in electric vehicles and renewables
Egypt’s Prime Minister Mostafa Madbouly has urged Chinese companies to expand their investments in Egypt, with a particular focus on electric vehicles, water desalination, and renewable energy. This was reported by Daily News Egypt, a partner of TV BRICS.
Speaking on the sidelines of the Shanghai Cooperation Organisation Summit in Tianjin, where he represented President Abdel Fattah El-Sisi, Madbouly met senior Chinese officials. He praised Beijing’s role in Egypt’s recent infrastructure and industrial development, and invited Chinese firms to establish electric vehicle manufacturing plants in the Suez Canal Economic Zone.
In a series of separate meetings, Madbouly also held talks with the Chairperson of a Chinese chemical company, which operates across the Middle East, Africa, and Asia. The representative signalled its intention to increase investment in Egypt, particularly in fertiliser production, citing the country’s strategic location and preferential trade agreements.
Madbouly also held talks with a leading Chinese energy firm to discuss cooperation in the renewable sector. He extended an invitation to establish a factory in the Suez Canal Economic Zone, to bolster Egypt’s clean energy drive. The company, which already has significant assets and investments in Egypt, expressed interest in expanding its role in solar power, storage, and equipment manufacturing.
Photo: Markeliz / iStock
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