Egypt's PM Returns From China After Signing Agreements, Holding Talks
Date
9/7/2024 11:21:33 PM
(MENAFN- Daily News Egypt) Egypt's Prime Minister Mostafa Madbouly returned to Cairo on Saturday, following his participation in the China-Africa Cooperation Forum in Beijing.
Madbouly represented President Abdel Fattah Al-Sisi at the forum, which took place from Sept. 4-6. He attended the forum's opening ceremony, a formal dinner hosted by Chinese President Xi Jinping and his wife, and a number of high-level sessions focused on strengthening cooperation between China and African countries.
On the sidelines of the forum, Madbouly witnessed the signing of final contracts for a package of new projects within the Suez Canal Economic Zone, including chemical and food industries, bromine production, and the manufacturing of components for renewable energy projects.
These projects are anticipated to generate investments exceeding $1bn.
He also oversaw the signing of five Memoranda of Understanding (MoUs).
These MoUs pave the way for the establishment of three factories for the production of fibre optic cables and telecommunications equipment and three outsourcing service export centres, creating 800 job opportunities.
They cover areas such as electronic circuit design, software development, research and development in optical networks, green transformation technologies, semiconductors, and the establishment of a $300m technology investment fund, a data centre, and four training centres and labs. These facilities are expected to train and build the capacity of over 3,250 specialists.
During the forum, Madbouly delivered a speech at a session titled“Industrial Transformation, Agricultural Modernization, and Green Development.” He also held meetings with leading Chinese companies, several of which operate within Egypt's Suez Canal Economic Zone, to discuss the progress of their projects and future expansion plans in Egypt.
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