Chinese Investments in Egypt are Skyrocketing and Here’s How!
According to a statement that they issued around a month ago; Egypt will be witnessing a 5.6% growth in the fiscal year 2018-2019. The statement is supported by private consumption, a recovery in the tourism sector, and the beginning of operations of recently discovered gas fields.
One of the main reasons why Egypt’s economy has been blossoming recently is China’s investments in Egypt, and according to Secretary General of the Union of Arab Banks Wessam Fattoh, they have just hit $15Bn.
“Trade exchange between China and the Arab countries recorded $200 billion in 2017, which is four times higher than the volume of 2014,” he stated adding that Beijing investments in the region hit $30 billion, as a result of the development of Arab-Chinese relationships in the fields of economy, investment, finance, and banking.
