The Chinese delegation included dozens of university professors and business leaders from Shanghai, China's economic capital, led by Dr. Shunjuan Liu, Dean of the School of Management at Fudan University, Founding Director of the Marketing Research Center at Fudan University, and a member of the boards of directors of several multinational companies and industrial giants in China.
Dr. Liu emphasized Egypt's readiness to receive massive
Chinese investments in the coming period, noting that Fudan University will
leverage its ties with the Chinese business community to promote investment in
Egypt.
He pointed to the depth of diplomatic and economic
relations with Egypt, as the two countries celebrate the 70th anniversary of
the launch of Egyptian-Chinese relations next year. In 2014, President Abdel
Fattah El-Sisi and Chinese President Xi Jinping witnessed the signing ceremony
of a document elevating the bilateral relationship to a comprehensive strategic
partnership, the highest level of foreign relations. Egypt was also one of the
first countries to join the Belt and Road Initiative to develop and establish
trade routes and economic corridors linking dozens of countries, enhancing
connectivity across the continents of the Old World: Asia, Europe, and Africa.
The two sides discussed ways to link Egyptian
industries with Chinese technological developments, especially with the growing
demand from the Chinese business community for investment in Egypt following
the country's infrastructure and legislative boom to attract investment. Egypt
also possesses competitive advantages, including a skilled workforce, a prime
location, and trade agreements connecting it to approximately 3 billion
consumers worldwide.
Hossam Heiba, CEO of GAFI, said that localizing
technology and supporting creative ideas is one of the most important goals of
the Egyptian government. Egypt has granted a golden license to two Chinese
companies, Haier and Midea, because they decided to localize industrial
technology in Egypt. The authority has also trained more than 300,000
entrepreneurs over the past five years, a large number of whom have contributed
to developing the Egyptian economy and enhancing its connection to the latest
global technical developments.
Heiba announced that the Authority seeks to establish technology innovation centers in its free and investment zones, in partnership with countries that invest in Egypt, most notably the People's Republic of China.