Egyptian Prime Minister Ahmed Nazef on Sunday laid the foundation stone of an investor services building financed by a Chinese grant in northwestern Suez Gulf in Egypt.

At the foundation stone laying ceremony, Nazef thanked the Chinese government and the Chinese people. The Egyptian prime minister said that the one-stop investor services building will become a symbol of Sino-Egyptian friendship.

Chinese Ambassador to Egypt Wu Sike, who laid down the foundation stone with Nazef, said the ceremony was encouraging news for both Chinese and Egyptian investors and would promote cooperation between the two countries in the fields of economy, trade and investment.

The ceremony follows the signing of a design contract for the investor services building between the Chinese and Egyptian sides. The contract is the result of the economic assistance agreement reached by leaders of both countries.

The project was financed by a Chinese grant of 80 million RMB (about 10 million U.S. dollars).

Senior Egyptian officials including Minister of Investment Mahmoud Mohieddin and Minister of International Cooperation Abu Naga attended the foundation stone laying ceremony.

Others among the more than 100 participants included Cao Jiachang, Commercial Counselor of Chinese Embassy in Egypt, and representatives of Chinese entrepreneurs in Egypt.

Source: Xinhua