El-Sherif noted that Jiangsu's advanced manufacturing and technological industries contribute substantially to the Chinese economy, making it a leading centre for electronics, chemicals, heavy equipment, engines, and building materials.
He added that the province hosts over 40 industrial zones
and is one of the largest contributors to Chinese outbound investment, having
surpassed $82 billion in foreign investment across more than 160 countries.
In light of the province’s leading industrial status, the
head of the ECS directed the need to enhance cooperation with the Jiangsu
Provincial Council to attract more Chinese industrial investments to Egypt.
This focus is particularly on sectors targeted by the Egyptian state, such as new
and renewable energy, feeder industries, and machinery and equipment.
In this context, the ECS's Investment Promotion Affairs
Department and Asia Affairs Department received a delegation from the Jiangsu
Provincial Local Council at the ECS headquarters in the New Administrative
Capital.
During the meeting, the Investment Promotion Affairs
Department presented the available investment opportunities in the Egyptian
market and reviewed potential areas of economic and commercial cooperation
between the two sides. This comes amid the increasing momentum and tangible
development in Egyptian-Chinese relations across all levels.
Both sides stressed the importance of boosting bilateral
cooperation between Egypt and Jiangsu province, especially given the growing
interest of Chinese companies in investing in Egypt. The ECS reportedly
receives a monthly increase in the number of Chinese governmental delegations
and companies keen to explore investment opportunities in various sectors
within the Egyptian market.
Guo Zhao, Deputy Director of the Jiangsu Provincial Local
Council, stated that the visit was the first of its kind to Egypt. Its aim is
to explore the Egyptian market and discuss prospects for new Chinese
investments, leveraging Egypt's competitive advantages and outstanding strategic
location in the region.
This meeting falls under the ECS’s plan to strengthen economic cooperation with major Chinese provinces and attract more quality investments to Egypt, thereby supporting the state's drive to increase exports and develop value-added chains across various production sectors.