Mahmoud Esmat, the Minister of Public Enterprises Sector, met with Christopher Hui, the Secretary for Financial Services and the Treasury of the Hong Kong Government, and his accompanying delegation, at the Ministry’s General Office in New Administrative Capital, east Cairo. They discussed the cooperation and investment opportunities in the ministry’s subsidiaries.
Esmat said that the Ministry plans to develop, modernise, and introduce new technologies to increase production and localise modern industries. He said that the Ministry is communicating with Chinese companies to establish renewable energy stations to provide clean energy for new aluminum smelter projects.
Esmat highlighted the government’s interest in strengthening and developing trade and investment relations with China and attracting more Chinese investments in various industrial fields and new technologies. He praised the fruitful cooperation between Egypt and China. Esmat presented the ministry’s activities and sectors, and the efforts to restructure and improve the performance of the subsidiaries. He also offered diverse investment opportunities to foreign investors.
Esmat noted that Egypt’s joining the BRICS starting next year is an important step to open new cooperation fields for Chinese investors. He pointed out the importance of benefiting from Hong Kong’s location as one of the most important financial centers in Asia in providing the necessary investments for development projects. The Minister said that the Ministry pays great attention to exploiting and managing its assets well to ensure increased returns.
He added: “The ministry welcomes cooperation and partnership with the private sector and seeks its expertise in developing the affiliated companies, especially in the pharmaceutical, metallurgy, chemical, and textile industries sectors. There is an investment map of the most important projects that can be implemented in cooperation with the affiliated companies and to benefit from the advantages and facilities that the state provides for foreign investment.”
Christopher Hui praised the Ministry’s efforts to attract foreign investment, enhance the role of the private sector, and develop the subsidiaries. He expressed the interest of major companies in Hong Kong in green economy projects and clean energy generation plants from wind and sun. He confirmed the strategic role of financial markets in attracting investors interested in partnering with China and using the Hong Kong Exchange as a source of financing because of its high liquidity and its attraction to major international companies.
