It will be located on the coast of the Mediterranean Sea
Egyptian Minister of Trade and Industry Ahmed Samir met with acting Chinese Ambassador to Cairo Zhang Tao to discuss the establishment of a Chinese industrial zone on the Mediterranean coast. This is reported by Daily News Egypt, a partner of TV BRICS.
It will feature both traditional and modern manufacturing. The project is designed to facilitate the transfer of expertise and advanced technology to Egyptian specialists. The growing interest of Chinese companies in setting up factories in Egypt emphasises the potential benefits of combining manufacturing operations in the space of a single plaza.
Samir emphasised that the opening of this zone will be Egypt's first project as a BRICS member. Significant investments are expected to be attracted to the Egyptian market in the near future.
The visit will aim at interacting with Chinese officials and promoting the establishment of an industrial zone, as well as exploring investment opportunities.
The minister emphasised the dynamic nature of Egyptian-Chinese relations, especially after Egypt's accession to BRICS and the ongoing development of the Chinese industrial zone in Ain Sokhna.
Zhang Tao expressed China's readiness to encourage further Chinese investment in Egypt and strengthen cooperation between Beijing and Cairo in all fields.
Photo: IStock
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