6 things you should know about Egypt's new Chinese industrial city

In a groundbreaking development, Egypt is poised to establish a significant partnership with China by setting up a huge industrial zone along its Mediterranean coast. This collaboration marks Egypt's maiden venture since joining the BRICS group and promises substantial economic gains through extensive Chinese investments. Here are six key insights into this transformative initiative that holds immense potential for both nations.

1. Egypt's Industry Minister, Ahmed Samir, met with China's Deputy Ambassador, Zhang Tao, to discuss a big Chinese industrial area by the Mediterranean Sea.

2. This deal could be Egypt's first big move since joining BRICS and means a lot of money coming into Egypt from China.

3. Next week, a team from Egypt's Ministry of Industry, along with business groups, will go to Beijing to talk more about the industrial zone and possible investments.

4. The plan is to have two parts to the industrial zone: one for regular factories and another for high-tech industries. This will help Egypt learn new skills and technologies from China.

5. Many Chinese companies want to set up factories in Egypt. Putting them in one big zone will make it easier for them to work and export their products, bringing benefits to both countries.

6. Minister Samir says having these factories together will give them special advantages, making it easier and cheaper to make things and sell them abroad.