The Minister of Local Development discusses with a delegation from the Chinese New Hope Company and the Egyptian-Chinese Businessmen Foundation areas of joint cooperation
Today, Wednesday, Dr. Manal Awad, Minister of Local Development, received a delegation from “New Hope” Company. China’s leader in agricultural and renewable energy Headed by Liu Chang, Chairwoman of the Company’s Board of Directors, the company’s delegation included Tao Yuling, CEO of the Company, Wang Weiyong, Senior Advisor to New Hope, Shao Wen, General Manager of the Company in Egypt, Wang Jie, Vice President of the Egyptian-Chinese Businessmen Association, and Engineer Mohamed Alaa Amin. General Assembly.
The meeting took place at the Ministry’s headquarters in the New Administrative Capital, in the presence of Ambassador Hossam Al-Qawish, Assistant Minister of Local Development for International Cooperation, and a number of the Ministry’s leaders. The meeting witnessed a review of ways to expand Industrial investment inside Egypt.
At the beginning of the meeting, the Minister of Local Development welcomed the Chinese delegation and continued the discussions between the two sides, which she had begun during her recent visit to the province
Chinese Sichuan last month, as Dr. Manal Awad indicated her aspiration to open new horizons for joint cooperation between the two sides and increase economic growth in the Egyptian governorates, and benefit from Chinese expertise in the fields of agricultural industrialization and renewable energy and establish industrial zones on the lands of some governorates to settle Chinese industries in Egypt in implementation of directives. Political leadership and assignments of the Prime Minister in this regard.
The Minister of Local Development also pointed out the presence of many competitive advantages in the Egyptian governorates and the importance of benefiting from the advantages provided by the Egyptian government in the field of industrial zones and the free zone, praising the technological development and modern equipment that she saw during her inspection tour of a number of Chinese companies in Sichuan Province during her visit. For China.
The meeting witnessed a study of the opportunities available in industrial zones in the governorates, to establish a complex of feed factories in Egypt with an investment value of $100 million, which is an important step and a new opportunity towards boosting Chinese investment inside Egypt, deepening strategic relations with the friendly country of China, and continuing to build bridges of economic, commercial and cultural cooperation between the two countries.
For her part, Liu Chang, Chairwoman of the Board of Directors of the Chinese New Hope Company, expressed her happiness at this meeting, congratulating the Minister of Local Development on her arrival to this position. She is the first Egyptian woman to hold the position of Minister of Local Development in the history of the Ministry, stressing the group’s keenness since the first day the company was present within Egypt in 2011 for serious and effective investment, noting the company’s intention to expand its investments within the Arab Republic of Egypt during the coming period, praising the Egyptian government’s support in several aspects, including the field of value-added tax, and attracting investments. Foreign countries, providing land for new projects and facilitating investment procedures.
Liu Chang indicated that the company has taken a global ranking in the production of feed and food chains and has many investments outside China, but Egypt is one of the most important countries in which we seek to increase investment, especially in the field of feed production and fish farms, and so far 5 factories have been established to produce feed. In Egypt, in the governorates of Menoufia, Beni Suef, and Beheira in the cities of Housh Issa and Wadi El Natroun, and the city of Gamasa in Dakahlia, where it was able to produce 650 thousand tons. Annually for feed at a rate of 10% of production in Egypt, where the total current financial investment has reached 70 million dollars, and the company plans during the coming period to invest 100 dollars, in addition to expanding the production capacity to one million tons per day, stressing that the company has many contributions within the Egyptian market and the rate of Egyptian employment is About 94% are within the company, adding: Our partnership will continue to strengthen Egyptian manpower and talent and allow Egyptian co-workers and success partners to master Chinese technology for this industry.
