Egypt’s minister of investment and international cooperation met on Monday with the CEO of the Silk Road Fund to discuss possible mutual benefits from the Chinese fund’s financing opportunities for other countries, read the ministry’s statement on its website.
Sahar Nasr and Jin Qi’s talks came on the sidelines of their participation in the One Belt, One Road two-day summit, which started on 14 May, under the Silk Road Initiative launched by China’s President Xi Jinping.
The new Silk Road plan aims to revive the ancient trade routes between China and the Mediterranean countries through Asia and Europe.
According to the statement, Nasr has expressed “her aspirations to increase China’s ranking among the countries investing in Egypt, given that the number of Chinese companies operating in Egypt reached up to 1,300 companies.”
The minister said that the recently approved investment law would offer several investment incentives that facilitate procedures for investors and contribute to supporting the private sector.
Egypt’s House of Representatives approved earlier this month a new investment law that grants investors a number of incentives, including tax breaks.