The forum in Cairo saw the attendance of representatives from approximately 200 Egyptian and Chinese companies, including major players like BYD Electric Vehicles, Longi (solar energy solutions), and Inspur (IT, AI, and data centers).
Heiba noted that over 2,000 Chinese companies already
operate in Egypt with investments surpassing $8 billion. However, he stressed
that the government sees significant opportunities for new Chinese capital,
particularly in eight priority sectors where Egypt holds a competitive edge: industry
(automotive, pharmaceuticals, home appliances, textiles), communications and IT,
health, education, logistics, tourism, renewable energy, and agriculture.
The GAFI CEO highlighted available investment incentives,
including tax breaks that can return up to 50% of the investment cost through
tax expense deductions over a seven-year period.
Heiba also announced that the massive Chinese demand for
investment spurred the expansion of existing free zones, which are nearly 100%
occupied, and the establishment of four new free zones in 10th of Ramadan, New
October, New Borg El Arab, and New Alamein. These new zones are expected to
become operational by the end of 2026.
Engineer Ahmed El-Gendy, General Manager of Haier Egypt (the
world's largest home appliance manufacturer), showcased the efficiency of
Egypt's investment procedures. He stated that the ease of licensing allowed the
company to complete the first phase of its Egyptian project in just 13 months,
making it the fastest factory establishment within the global Haier Group.
Haier, which holds a Golden License (a single approval for
all permits), has already begun exporting products from its Egyptian plant.
The forum concluded with B2B sessions aimed at fostering joint investments targeting both the Egyptian market and the global markets linked to Egypt's trade agreements.