SGCC Executives Attended China-Egypt Trade and Investment Forum and Delivered Speeches
On 15th May, China-Egypt Trade and Investment Forum was held in Beijing. The Forum aims to implement the Belt and Road Initiative to promote international cooperation and win-win development with strengthened economic and trade ties between the two sides. Mr. Li Ruge, CFO of SGCC attended the forum and delivered a speech.

Mr. Ahmed Rezk,Ambassador of Egypt to China, made a welcoming speech at the Forum, Dr. Sahar Nasr,Egyptian Minister of Investment and International Cooperation, Mr. TarekKabil, Minister of Trade and Industry and Mr.AhmedDarwish,Vice Chairman of the Suez Canal Economic Zone Commission also made a few remarks. According to them, Egypt is an important bridge linking Asia, Africa and Europe. With such unique geographical location, it has always been an attractive investment destination for Chinese businesses. In recent years, Egypt enjoyed rapid economic development with the government being committed to promoting energy infrastructure construction and the development and use of renewable energy with the hope to make itself into a strong competitor along the supply chain of the development of the Belt and Road Initiative. Egypt welcomes more Chinese businesses to participate in the national development of Egypt through deepening economic and trade ties in different sectors.

Mr. Li Ruge introduced SGCC¡¯s involvement in the development of the Belt and Road Initiative and pointed out that SGCC hadbecome the world¡¯s largest super grid with the most advanced technology, the greatest resource allocation capability, the largest installed capacity and the highest level of safety operation. In the past few years, SGCC has accumulated much experience in grid construction and operation. Currently, while promoting grid development and technological innovation in China, SGCC is also making full use of its own advantages to expand international business operations with important progress having already been made. SGCC values its cooperation with Egypt in grid construction and hopes that the two sides could further enlarge the scope of cooperation and improve the scale and efficiency of cooperation on the basis of existing achievements. SGCC will continue to stick to the principle of mutual benefit and win-win cooperation and uphold the idea of ¡°mutual discussion, building jointly and sharing the benefits equally ¡° to constantly deepen power cooperation between the two sides and better serve economic and social development of both countries.

On the forum, Mr. Li Ruge and the Minister of Finance of Egypt witnessed the signing of the financing agreements of the EETC 500kV power transmission project in Egypt undertaken by China Electric Power Equipment and Technology Co., Ltd.

Mr. Amr EL-Garhy, Minister of Finance of Egypt, Mr. Yasser ElKady, Minister of Communications and Information Technology, Mr. Hesham Arafat, Minister of Transportation of Egypt and representatives of China Export & Credit Insurance Corporation, China Development Bank, China Aerospace Science and Technology Corporation, the Export-Import Bank of China, Department of International Cooperation of SGCC and China Electric Power Equipment and Technology Co., Ltd attended the forum.

Source£º Department of International Cooperation, State Grid News

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