Assem El-Gazzar, the Minister of Housing, Utilities, and New Urban Communities, has announced that New Beni Suef city recently hosted a delegation of Chinese investors, Invest-Gate reports.

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, the Head of the New Beni Suef City Development Authority, warmly welcomed the Chinese delegation. During their visit, they had a meeting with Le Jin, the Director of the Angel Yeast factory.

This factory, located in Wufang’s medium-sized industrial zone, covers an area of 123,731 sqm. It 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 flavorings, Angel Yeast exports its products to approximately 165 countries worldwide.

Abdel Gaber initiated the meeting by providing an overview of the city, highlighting its strategic location in close proximity to the mother governorate, Beni Suef, being only about two km away. He also emphasized its proximity to Cairo and its ample facilities and infrastructure. The city is characterized by the availability of a skilled workforce, making it an attractive element for investment.

The meeting covered various aspects of investment opportunities in the city, which accommodates a wide range of industrial, service, residential, and recreational activities.

In his speech, the head of the Chinese delegation expressed gratitude to Abdel Gaber and the officials of the authority for the warm reception. He also conveyed his satisfaction with the visit and appreciated the city authority’s efforts in supporting industrial activities, which have resulted in the initiation of procedures for the construction of several industrial projects within New Beni Suef city.

Furthermore, the head of the delegation extended an invitation to investors in New Beni Suef city, urging them to visit China. The purpose of the visit is to foster support and facilitate the exchange of experiences between the Egyptian and Chinese counterparts.