Dr. Mohamed Awad: 

• We aim to activate cooperation with CADFund and attractinvestments in priority sectors.

In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), held a meeting with a delegation from the China Development Bank (CDB), headed by Mr. Huang Zhiqiang, President of the Bank, and attended by Ms. Ma Lin, CEO of the China-Africa Development Fund (CADFund), an affiliate of the Bank. The meeting discussed opportunities to strengthen investment and financing cooperation and attract further Chinese investments to Egypt.
Dr. Awad affirmed GAFI's commitment to enforcing the Memorandum of Understanding (MoU) signed with CADFund through the development of a joint action plan to identify priority sectors and projects and leverage CDB's financing capabilities to support productive and development projects.
He highlighted the importance of cooperation in developing new and specialized investment and industrial zones and attracting investments to these zones, drawing on the successful experiences of Chinese companies operating in Egypt, including TEDA and Jushi, with Jushi specializing in fiberglass production and receiving financing support from CDB.
He added that Egypt has competitive advantages that qualify it to serve as a hub for Chinese investments seeking access to African, Arab, and European markets.
For his part, Mr. Huang Zhiqiang affirmed CDB's commitment to strengthening cooperation with Egypt and exploring financing opportunities for priority projects.
At the conclusion of the meeting, both sides discussed a proposal to host a regional office of CADFund at GAFI's headquarters, with a view to enhancing joint coordination in following up on ongoing projects and exploring new investment opportunities.