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First fruit of Egypt joining BRICS – a major Chinese industrial zone in Egypt with massive investments

Egypt’s Minister of Industry Ahmed Samir met with the Deputy Ambassador of China in Cairo Zhang Tao, and his accompanying delegation, to discuss the establishment of a huge Chinese industrial zone on the Mediterranean Sea.

If an agreement is reached on this zone, the ministry said it will be the first fruit of Egypt joining the BRICS group, and will contribute to pumping large investments into the Egyptian market.

Samir added that a delegation comprising of representatives of the ministry, the Federation of Egyptian Chambers of Commerce, and the Egyptian Federation of Industries is scheduled to visit the Chinese capital, Beijing, next week to hold meetings with their Chinese counterparts to promote the proposed industrial zone and review the targeted investment opportunities.

The proposal for this zone includes the establishment of a traditional industrial zone and another specialized in high-value-added technological industries, the minister explained.

He said that this will transfer expertise and some of the latest technologies to the Egyptian workforce, making Egypt an industrial and export hub for Chinese products following increasing requests from Chinese companies wishing to obtain land to build factories there.

This will bring benefits if these factories are gathered in one industrial zone with preferential advantages at the levels of manufacturing and export, the minister explained.

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