Egypt's Prime Minister Sherif Ismail will meet with Chinese President Xi Jinping late Friday in South Africa's Johannesburg, where he will discuss investment in Egypt at the Forum on China-Africa Cooperation (FOCAC).

The prime minister will deliver Egypt's President Abdel-Fattah El-Sisi's salute to China's president and will present Egypt's efforts to offer an atmosphere that encourages investment.

Ismail will also deliver a speech on Saturday in Johannesburg during a session headed by the Chinese president at the FOCAC.

During his speech, Ismail will focus on the importance of Sino-African cooperation based on mutual interest and the necessity that China participates in development projects in the African continent, in addition to showing Egyptian measures taken to create a favourable atmosphere for investments and investment opportunities.

The summit aims at adopting the Johannesburg Declaration and the Forum's Action Plan 2016-2017 concerning Sino-African partnership relations, and its theme is "Africa-China Progressing Together: Win-Win Cooperation for Common Development."

The summit is co-chaired by Chinese president Xi Jinping and South African president Jacob Zuma on Friday and Saturday.

According to Africa News Agency, China announced Friday it will allocate $60 billion for African development.

The summit is attended by China and 50 African countries who have diplomatic ties with China, in addition to the Commission of the African Union, Xinhua news agency said.

"China will also propose a series of cooperation plans, including industrial production shifts, infrastructure construction, human resource exploration, facilitating investment, green development, finance servicing, and peace and security. Cooperation between China and Africa is built upon equality and mutual development," China’s Foreign Minister Wang Yi said, according to China Network Television.

China’s foreign minister also said that this is the first time that the summit has been upgraded from the level of ministers to the level of leaders.

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