Egypt has successfully attracted approximately $8 billion in investments from around 2 800 Chinese companies, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Heiba made this announcement during a meeting with Wang Weizhong, Governor of Guangdong Province, alongside other officials from Chinese firms looking to invest in the Egyptian market.

The Egyptian government is placing significant emphasis on attracting Chinese investments, with the goal of transferring technology to Egypt and creating labor-intensive job opportunities, Heiba noted. He added that GAFI is planning to establish a comprehensive Chinese textile city in Minya Governorate and mentioned that three Chinese companies have been granted golden licenses to operate within the country.

The discussions also included an investment cooperation agenda for the second half of 2025, which features participation from the Ministry of Investment and Foreign Trade in the World Economic Forum scheduled for June 24th to 26th in Tianjin. Additionally, the Egyptian-Chinese Investment Forum is set to take place in Cairo next July, featuring the participation of Wang Shouwen, the Chinese Vice Minister of Commerce and International Trade.

In a related development, Feng Xingya, Chairman of Guangzhou Automobile Group (CAG), announced plans for a $300 million investment to establish an automotive factory in Egypt aimed at meeting local market demands and facilitating exports. Meanwhile, Xu Ziyang, CEO of ZTE, revealed intentions to expand the company’s operations in Egypt and localize Chinese technology, in response to the increasing demand from Egyptian telecom firms for enhanced telecommunications infrastructure.