GAFI explores deeper investment, innovation ties with China

Updated 4/29/2025 10:50:00 AM

Arab Finance: Egypt is seeking to strengthen its innovation and entrepreneurship links with China as the General Authority for Investment and Free Zones (GAFI) hosted the Egypt-China Forum to promote investment, innovation, and entrepreneurship partnerships, as per a statement.

The forum brought together members of Egypt’s business community and a Chinese delegation from Shanghai, led by Xiongwen Lu, Dean of the School of Management at Fudan University and a board member at several multinational companies.

Lu said Egypt is ready to receive significant Chinese investments in the near future and noted that Fudan University would use its close ties with the Chinese private sector to promote investment opportunities in Egypt.

He also pointed to the strategic depth of Egyptian-Chinese relations, which will mark their 70th anniversary next year.

In 2014, the two nations upgraded their ties to a comprehensive strategic partnership. Egypt was also one of the earliest participants in China’s Belt and Road Initiative.

Discussions during the forum focused on linking Egyptian industries with Chinese technological advances, especially amid growing Chinese interest in Egypt following recent infrastructure upgrades and investment-friendly legislation.

GAFI CEO Hossam Heiba said that supporting innovation and localizing technology are among the Egyptian government’s top priorities.

He noted that golden licenses were recently granted to Chinese companies Haier and Midea due to their plans to localize industrial technology in Egypt.

Heiba added that GAFI has trained more than 300,000 entrepreneurs over the past five years, many of whom are helping align Egypt’s economy with global tech trends.

Heiba also revealed that GAFI plans to establish technology innovation centers in Egypt’s free and investment zones in cooperation with partner countries, particularly China.