China’s investments in Egypt have topped $8 billion and they are poised for a big increase following the signing of several agreements between the two countries, the head of the Egyptian Chinese Entrepreneurs Association has said.

“These agreements cover infrastructure, energy, technology and trade…they will lead to a large increase in Chinese investments in Egypt,” Majduddin Al-Manzalawi told Addustour newspaper.

He said China’s investments in Egypt have exceeded $8 billion and they cover 141 sectors, adding that 2,066 Chinese companies operate in Egypt.

Manzalawi said agreements signed between the two countries include incentives for Chinese firms to set up projects in Egypt covering airports, roads, rail, energy, industry, farming, technology and other fields.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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