Egypt in talks with China to establish $100M projects spans across diverse sectors

Egypt is in talks with Chinese investors to launch approximately 7 to 8 major projects requiring investments exceeding $100 million.

 

These ventures will span across new and renewable energy, engineering industries, as well as spinning and weaving sectors, as per a statement from Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI).

 

Heiba also underscored ongoing intensive collaborations with a Turkish team on an additional 10 projects, incorporating roughly 7 new initiatives.

 

The CEO of GAFI disclosed a set of project propositions aimed at partnering with the private sector in tourism, health, and education domains. This encompasses around 30 healthcare opportunities and about 16 universities. 

 

Within the tourism sector, there are 3 partnership projects earmarked for Sharm El-Sheikh, encompassing a medical and hospital tourism resort, an international hub for cultural and commercial entertainment, and a sports academy. 

 

Further partnership prospects involve the establishment of a yacht marina in the Galala region.

 

He further unveiled that the Authority has concluded the assessment of 8 prominent licenses, submitting them to the cabinet.

 

These licenses cover projects within the energy, engineering industries, as well as university and basic education sectors.