China's President Xi Jinping visited Egypt this week in a rare overseas trip, as Beijing looks to deepen its relationships in Africa and the Global South at a time when the influence of the United States in the region is perceived by many to be waning.
Xi's visit to Cairo saw a flurry of investments announced. Chinese tyre maker ZC Rubber announced plans to invest $500n to develop a manufacturing complex in Sokhna, a port town on the Gulf of Suez, while the two governments also agreed to expand the Tianjin Economic-Technological Development Area (TEDA).
This is a Chinese-run industrial park inside the broader Suez Canal Economic Zone on the Red Sea. The park is home to major Chinese manufacturers such as Jushi, a leading producer of fibreglass which has invested over $600m in its Egyptian facilities, and Midea, one of the world's largest producers of home appliances.
TEDA has become a vital base from which Chinese companies can export goods across Africa, the Middle East, and Europe. The zone is reported to have attracted total investment surpassing $4.7bn and to have recorded sales of more than $7.3bn.
Originally published by African Business.