Shenzhen businesses invest $200m in Cairo
24 October 2007
A business delegation from Shenzhen has signed a raft of trading contracts with Egypt's General Authority for Investment and Free Zones in Cairo, Economic Observer reported (in Chinese). The contracts, which are mainly in the telecommunication and IT sectors, has the total amount over US$200 million, though the investments made were not specified. Shenzhen mayor Xu Zongheng and Egypt's minister of telecom and IT industry, Sarah Abdel-Aziz, were present at the signing ceremony. Bilateral trading value between the two countries reached US$3.19 billion in 2006, up 48.8% from the year 2005.
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