China's CFLD plans to pump $20bn into Egypt in 10 years

China Fortune Land Development Company (CFLD) plans to inject about 20 billion dollars in investments into Egypt within the coming 10 years, the Investment Ministry said in a statement on Thursday.

Investment Minister Dalia Khorshid had talks on Thursday with the CFLD representative on means establishing and operating comprehensive cities.

The Chinese company is looking forward to have Egypt as its regional center in the Middle East and North Africa, the CFLD representative said, noting that the company seeks to invest in the new administrative capital.

The Chinese official hailed the Egyptian government for encouraging foreign investments.

CFLD plans to organize an international conference in China to entice Chinese and international companies to do business in Egypt, he said.

The conference will be held under the theme of "invest in Egypt with CFLD," the Chinese official said.

More than 300 international companies are scheduled to take part in the event, he added.

Khorshid welcomed the Chinese investors' confidence in Egypt.

CFLD is China's leading new industrial city operator.