China makes a $2 billion push into Africa’s third-most industrialized nation as Beijing moves ahead of the US

Egypt and China are exploring a major economic partnership that could bring up to $2 billion in new investment into the region.

This proposed initiative would establish a massive, integrated industrial complex in the Egypt's Suez Canal Economic Zone (SCZONE), marking a key milestone in China's expanding economic footprint in Egypt.

A massive Chinese investment in Egypt's Suez Canal

On Thursday, August 20, 2026, Egypt's Deputy Prime Minister for Economic Affairs, Hussein Issa, met with a high-level delegation from a leading Chinese aluminum group in New Alamein city.

The two sides discussed plans for the proposed $2 billion industrial development, which is anticipated to generate more than 3,000 local jobs.