The gathering included CEOs from prominent Chinese firms across various sectors, including automotive, pharmaceuticals, finance, and digital transformation.
Al-Mashat underscored the deep and distinguished ties
between Egypt and China, highlighting decades of close cooperation built on
mutual respect and shared interests. She noted that the comprehensive strategic
partnership launched in 2014 serves as a successful model for South-South
cooperation, fostering mutual development.
She detailed Egypt's ambitious economic and structural
reform program, adopted in recent years, which aims to improve the investment
climate, boost private sector involvement, and develop infrastructure. This,
she explained, creates significant opportunities for joint investment in key
sectors such as industry, renewable energy, telecommunications, technological
infrastructure, and logistics.
Al-Mashat emphasized China's crucial role as a partner in
this vision, pointing to the remarkable growth in economic relations, both in
trade volume and direct investments. She highlighted Egypt's unique investment
advantages, including its strategic geographical location, extensive network of
free trade agreements, and supportive legislative frameworks for business
growth.
The Minister added that the Egyptian government is keen to
enhance collaboration with Chinese companies looking to expand into the
Egyptian market, particularly within the framework of Egypt's Vision 2030,
which targets sustainable growth, green transformation, and the localization of
strategic industries.
In a related context, Al-Mashat affirmed the government's
commitment to consolidating macroeconomic stability and preserving development
gains to navigate ongoing regional and international challenges. She stated
that Egypt is continuing its comprehensive program of economic and structural
reforms aimed at bolstering economic resilience, improving the business
environment, and broadening growth led by the private sector. These reforms,
coupled with continuous infrastructure investments and legislative updates,
make Egypt an increasingly attractive destination for foreign direct
investment, she added.
Concluding the meeting, Dr. Al-Mashat urged the Chinese
business community to leverage cooperation opportunities with Egypt as a
gateway to African, Middle Eastern, and European markets. She reiterated the
government's dedication to providing comprehensive support to serious investors
and fostering long-term partnerships that serve shared interests and balanced
development.
The Ministry of Planning, Economic Development, and
International Cooperation is actively working to advance economic relations
with China across various fronts, particularly in expertise and technology
exchange and scientific research. China is notably contributing to developing
Egyptian expertise in satellite assembly and testing, as well as training
Egyptian personnel.
In 2023, during Al-Mashat's visit to China, a Memorandum of Understanding for the Global Development Initiative (GDI) was signed. This agreement marks a new phase of joint work and will lead to the formulation of an integrated 3-5 year strategy for development cooperation between Egypt and China, a first for the two nations. Additionally, the countries signed their inaugural Memorandum of Understanding for a debt-for-development swap, which the Ministry of Planning is actively working to implement.