Agree­ment with head of Silk Road Fund to en­hance in­vest­ments to ac­ti­vate joint Egyp­tian Chi­nese projects

The Daily News Egypt - - Front Page -

Min­is­ter of In­vest­ment and In­ter­na­tional Co­op­er­a­tion Sa­har Nasr met on Mon­day with Jin Qi, the chair­per­son of the Silk Road Fund, on the side­lines of her par­tic­i­pa­tion in the fo­rum of the One Belt One Road (OBOR) in the Chi­nese cap­i­tal, Bei­jing.

The two sides have looked into ways Egypt can ben­e­fit from the fi­nan­cial op­por­tu­ni­ties of­fered by the fund to the states on the Silk Road within the ini­tia­tive to re­ac­ti­vate it, launched by the Chi­nese pres­i­dent.

They also dis­cussed the pos­si­bil­ity of co­op­er­at­ing with sev­eral in­ter­na­tional fi­nanc­ing in­sti­tu­tions to sup­port projects and es­tab­lish joint projects be­tween the pri­vate and pub­lic sec­tors.

The min­is­ter praised the strate­gic and de­vel­op­men­tal re­la­tions be­tween Egypt and China, ex­press­ing their readi­ness to en­hance China’s po­si­tion among the coun­tries in­vest­ing in Egypt. There are 1,300 Chi­nese com­pa­nies work­ing in Egypt.

The min­is­ter has pre­sented sev­eral eco­nomic and devel­op­ment projects that are con­sid­ered the govern­ment’s pri­or­ity dur­ing this pe­riod. They in­cluded the new Suez Canal Eco­nomic Zone (SCZone) and sev­eral trans­porta­tion projects.

The min­is­ter called upon Qi to visit Egypt soon or send a del­e­ga­tion to see these projects in real­ity.The fund’s chair­per­son has ex­pressed the fund’s de­sire to sup­port these projects.

Qi pointed out the role played by the fund since its es­tab­lish­ment in De­cem­ber 2014 in in­vest­ment, fi­nanc­ing, and sup­port­ing in­ter­na­tional co­op­er­a­tion within the ini­tia­tive of the eco­nomic belt for the Silk Road in the 21st cen­tury, known as OBOR.

The Silk Road Fund is con­sid­ered the largest in­vest­ment fund in China, where the Chi­nese pres­i­dent an­nounced its es­tab­lish­ment with a cap­i­tal of $40bn in De­cem­ber 2014 with the help of fi­nanc­ing from some Chi­nese banks and fi­nan­cial in­sti­tu­tions.

The min­is­ter has pre­sented sev­eral eco­nomic and devel­op­ment projects that are con­sid­ered the govern­ment’s pri­or­ity dur­ing this pe­riod

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