Two significant agreements have been signed with Chinese firms to enhance automotive manufacturing in Egypt. The first is a memorandum of understanding with Linglong, a Chinese tyre manufacturer, to establish a $2 billion tyre complex that will produce tyres for various vehicles, including passenger cars and buses. This project is projected to create over 5,000 jobs and attract substantial investment, with products aimed at both local and international markets.
The second agreement, involving the Ministry of Industry, the Sovereign Fund of Egypt, and Jiangsu Changzhou, along with FIDIA Automotive Engineering Systems from Italy, focuses on creating a platform for planning and building automotive and transport manufacturing plants. This initiative will cover factory engineering, smart production equipment, technical services, and technology transfer.
These agreements were announced after President Xi’s visit to Cairo, which also highlighted an expansion of industrial cooperation. In addition, a preliminary agreement was reached with ZC Rubber Group to explore a separate tyre manufacturing project worth about $500 million.
With over $10 billion in cumulative Chinese investment in Egypt, the China–Egypt TEDA Suez Economic and Trade Cooperation Zone has successfully attracted over $4.7 billion and now hosts more than 200 companies.
