Egypt welcomes Chinese delegation to explore investment opportunities in New Beni Suef

Minister of Housing, Utilities, and New Urban Communities, Assem El-Gazzar, announced that New Beni Suef city recently hosted a delegation of Chinese investors. The purpose of their visit was to discuss potential Chinese investments in the city, as part of a broader interest in foreign investment. The goal is to overcome obstacles faced by investors and attract investments to new cities, thereby promoting overall development in the country.

Ahmed Abdel Gaber, Head of the New Beni Suef City Development Authority, welcomed the Chinese delegation from Changyang. During their visit, they met with Le Jin, Director of the Angel Yeast factory. This factory, situated in Wufang’s medium-sized industrial zone across 123,731 square meters, holds the distinction of being the top-ranked factory in the Middle East and the second globally in terms of production. With an annual production capacity of 150,000 packages of dry yeast and 68,000 packages of flavourings, Angel Yeast exports its products to approximately 165 countries worldwide.

Abdel Gaber provided an overview of New Beni Suef city, emphasizing its strategic location. The city is conveniently close to the governorate’s capital, just 2 kilometres away, and also enjoys proximity to Cairo. New Beni Suef boasts robust infrastructure and facilities, making it an attractive destination for investment. Abundant manpower further enhances its appeal.

The discussion covered various investment aspects, spanning industrial, service, residential, and recreational activities within the city.

The head of the Chinese delegation extended an invitation to investors in New Beni Suef, encouraging them to visit China. Such exchanges aim to strengthen collaboration and share experiences between the Egyptian and Chinese sides.