Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>China Business

After the uprising

By Wu Gang (Global Times)

14:17, December 01, 2011

Local workers at a Chinese furniture factory. Photo: Wu Gang/GT

For many Chinese companies that have used Egypt as the base for their expansion in northern Africa and the Middle East, 2011 should have been a good year. But after the January uprising that ousted President Hosni Mubarak, business has become a lot more difficult.

TEDA, a Chinese company that specializes in building economic development zones, was preparing to sign a contract with the Egyptian government for a permit to get the land to develop the second phase of its Suez Economic Trade and Cooperation Zone. But the plans had to be put on hold after the authorities changed the conditions for land use.

Foreign direct investment (FDI) in the country has slumped amid all the political uncertainty. The total FDI is expected to reach a maximum of $3 billion for 2011, half that of last year.

But most Chinese companies intend to stay.

"The political and economic crisis may cause difficulties for some, but it can also be a time of opportunities for others," said Li Daixin, executive vice general manager of TEDA's Egypt branch.

【1】 【2】 【3】 【4】 【5】

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Medvedev, Putin meet supporters in Moscow

  2. Oh deer, I think I love you

  3. Beijing experiences its 1st snow this winter

  4. Black-headed gulls migrate from Siberia to China's Kunming

Most Popular

Opinions

  1. Why is China's financial sector going global?
  2. World needs safety net against euro crisis
  3. US-Pakistan anti-terrorism coalition close to collapse
  4. China's schools on the way up
  5. What is to be done with Syria?
  6. UK mass strike shows steep learning curve
  7. China-Myanmar ties challenged by US moves
  8. China and India mustn't go for the throat
  9. Germany needs wisdom to save euro
  10. Egypt's chaos: No end in sight

What's happening in China

Full of the joys of life in prison

  1. Beijing revising housing rules
  2. Hospital head dismissed over baby scandal
  3. Injured in stable condition after blast kills two
  4. Yachting sector surfing a wave of high interest
  5. 6 schoolchildren hurt in minibus rollover accident

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival