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Finance Ministry aims to issue yuan-denominated bonds to diversify sources of financing 'We are keen to create attractive business environment for investment,' says Maait
Mohamed Maait, Minister of Finance, affirmed that his ministry continues to create an attractive business environment for investments of all kinds in various development sectors, which contributes to strengthening the structure of the national economy, sustaining growth rates, and providing new job opportunities. He pointed out that China is an important trading partner for Egypt, and both governments are keen to expand the scope of the existing cooperation to include the financial field. Maait said, during his meeting with Liao Liqiang, Chinese Ambassador to Cairo, that close relations link the two countries in a framework of appreciation and mutual respect, and that there is broad coordination between the two countries in many international forums, noting that we are aiming for joint cooperation with the Chinese side to issue bonds in the Chinese market, which is the second largest bond market in the world, which contributes to diversifying sources and financing tools, attracting new investors, and helps reduce the cost and diversify sources of financing development investments. He added: "We are keen to enhance trade exchange, economic relations and joint investments in various fields, including the transfer of modern technology, and contribute to launching an industrial base for the production of Chinese electric cars in Egypt, to benefit from the Chinese industrial renaissance," stressing that economic reform helped us a lot in strengthening the solidity of the economy and granting it the ability to overcome challenges and absorb economic shocks imposed by global changes, due to the Coronavirus pandemic and the Ukrainian crisis. For his part, the Chinese ambassador expressed his appreciation for the economic reform efforts in Egypt, in a way that contributes to containing the effects of the inflationary wave that is currently hitting the global economy, as well as the pressures resulting from the high prices of wheat, food commodities and petroleum, stressing his country's keenness to increase trade exchange and strengthen economic relations and investment with Egypt, and expanding means of joint cooperation in various fields.
