The Minister of Investment and International Cooperation Dr. Sahar Nasr met with a delegation from the Export-Import Bank of China (Chexim), in presence of the Chinese Minister Delegate Han Bing, at MIIC premises.
At the beginning of the meeting, the Minister welcomed and thanked the Chinese delegation for Chexim’s constant support and keenness on injecting investments and discussing the means of cooperation between both countries.
The delegation proposed financing a number of projects, including the electric train that would connect between the 10th of Ramadan City and the New Administrative Capital as well as the project for multipurpose plant in Alexandria port.
In this regard, the Minister emphasized that such proposal had to be in line with the best applicable international standards and in accordance with citizens’ needs and the government’s program along with maximizing the local component, which would help transfer technology and provide further job opportunities.
Moreover, the Minister stated that MIIC worked on improving the business environment and the investment climate in Egypt. She also expressed her aspirations to increase Chinese investments in Egypt to be ranked 10th among the countries investing in Egypt, which would, in turn, increase strategic relations between both countries.
Afterwards, the Minister met with Zahid Muzaffar, Chairman of the Board of the Oil and Gas Development Company Limited (OGDCL) in Pakistan and a member of the Investment Committee at the Cabinet of Pakistan, within the framework of strengthening economic and investment cooperation relations between both countries.
The Minister expressed her keenness on activating cooperation between both sides at all levels, especially in the fields of attracting investments, encouraging the establishment of joint ventures and increasing the volume of Pakistani investments in Egypt, given that Egypt and Pakistan have comparative advantages in several services.
The meeting discussed the means of developing and supporting relations between both countries, especially in injecting investments in the petroleum field and activating the Economic and Technical Cooperation Agreement signed between both countries in 2011.
The Minister asserted the significance of encouraging Pakistani investors to increase the volume of Pakistani investments in Egypt.