"Egypt-China cooperation helps Egypt's economic recovery"
Release time:
2022-03-01 00:00
"Egypt-China cooperation helps Egypt's economic recovery"
Source: People's Daily
Egyptian Prime Minister Madbouli recently visited the CBD project, the new capital of Egypt, undertaken by Chinese enterprises. This is his eleventh time to inspect the progress of the project. During the inspection, Madbouli affirmed the progress of the project and asked relevant parties to actively cooperate with the work of Chinese enterprises and jointly promote the project.
The CBD project of Egypt's new capital is a key project of China-Egypt cooperation. Up to now, most of the main structure construction of the project has been completed, and the mechanical and electrical, interior and municipal operations are accelerating. The exterior curtain wall of the sign tower has been partially installed to the 75th floor, and nearly 15000 Chinese and Egyptian employees are working in all aspects of the project construction.
Under the background of the continuous and in-depth docking of the "Belt and Road Initiative" initiative with Egypt's "2030 Vision", a number of practical cooperation projects such as the construction of the new capital CBD of Egypt have continued to advance, and China-Egypt economic and trade cooperation has shown a momentum of vigorous development. Another key project of China-Egypt economic and trade cooperation-China-Egypt TEDA Suez Economic and Trade Cooperation Zone. As of the end of 2021, a total of 123 companies have been attracted to settle in, with actual investment exceeding US $1.3 billion, cumulative sales exceeding US $2.6 billion, and tax payment exceeding US $0.19 billion, Driving more than 40000 jobs, it was rated by local media as the economic and trade cooperation park with the best comprehensive environment, the highest investment density, and the highest unit output in Egypt.
According to data provided by the Chinese Embassy in Egypt, in the first three quarters of 2021, the total trade in goods between China and Egypt reached 14.77 billion billion U.S. dollars, an increase of 44.9 percent year-on-year. Among them, Egypt's exports to China increased by 70.3.
Egypt's "financial news" reported that the growth of Egypt's real GDP and foreign income "has begun to recover", and international cooperation represented by Egypt China cooperation has contributed to Egypt's economic growth. In an interview with our reporter, Jabara, a columnist for Egypt's Al-Ahram newspaper, said that in the face of the challenge of the epidemic, "Egypt-China cooperation will help Egypt's economic recovery".
Egyptian media said that China is the most active and fastest growing country in Egypt in recent years. Egypt's "Pyramid Weekly" published an article: "China's contribution to the Egyptian economy can be felt and cannot be ignored." Jabara said that since 2013, China has been Egypt's largest trading partner. "Egypt-China trade continues to grow, especially China's rapidly increasing investment in Egypt, which has contributed a lot to the Egyptian economy."
Since the outbreak of the epidemic, China has provided Egypt with a number of batches of epidemic prevention materials and vaccines, and has continued to expand the joint production of vaccines, helping Egypt to become a vaccine production center in Africa. Egypt's "Republic" pointed out that in the post-epidemic era, Egypt-China trade will gain greater growth momentum and promote the continued improvement of the Egyptian economy.
At present, China-Egypt cooperation pays more attention to green and sustainable development. In December 2021, China Weichai Group and Egypt's Jisheng Group signed an agreement in Cairo. China will help Egypt complete the "oil-to-gas" work of 240000 minibuses. "The cooperation between China and Egypt in clean energy such as solar and wind energy, digitalization, and projects that benefit the people is in the ascendant." said Jabara.
Related News
2025-11-28
All rights reserved©2024 China-Africa TEDA Investment Co., Ltd.
