BEIJING, July 13 (Xinhuanet) — Egypt is willing to play a key role in the construction of the “Belt and Road” Initiative by encouraging infrastructural investment, said Egyptian Minister of Investment Dalia Khorshid and Minister of Trade and Industry Tarek Kabil in Beijing on Tuesday.
At the same time, they said, Egypt is devoted to developing the "Suez Canal Corridor" which can be well integrated with the “Belt and Road” Initiative.
The Egyptian officials are attending an Egyptian-Chinese Ministerial Committee meeting for preparation of the upcoming G20 Summit to be held in Hangzhou, China.
On the upcoming summit, they said Egypt is looking forward to driving the development of global economy through infrastructural construction.
The ministers emphasized the importance of launching power plants in Egypt, saying that affected by the turbulent situation in the past few years, Egypt had often suffered from electricity shortages which pose great obstacles to Egypt’s efforts to reinvigorate economy.
According to Kabil, China has many successful experience that Egypt can draw on, such as techniques in nourishing middle and small sized enterprises, the mature models of establishing industrial zones and so on.
Egypt is safe and trustworthy as a destination for foreign investment, they stressed, adding Egypt expects a GDP growth rate of 5 percent in 2017.
The Egyptian government is also seeking to simplify procedures to issue permits more efficiently for foreign investors and to provide them with better services, they said.