(Xinhua/Pan Chaoyue)

Although China's investment in Egypt is currently quite modest, Egyptian officials are confident that they will be able to obtain more Chinese investments in the near future, said a senior Egyptian official at a press conference on Tuesday.

Egypt's government plans to increase their investments from China approximately tenfold, and hopes to make China one of the country's largest foreign investors--anywhere between the fifth and 10th largest. This is according to Dalia Khorshid, Egyptian Minister of Investment, who explained the projection at a press conference during her visit to Beijing for the Joint Egyptian-Chinese Ministerial Committee meetings on July 11 and 12. Khorshid said that China is currently the 23rd largest foreign investor in Egypt.

China's investments in Egypt are mainly related to infrastructure, particularly electric power, said Tarek Kabil, Egyptian Minister of Trade and Industry, at the same press conference.

In order to encourage Chinese companies to conduct business in Egypt, the investment ministry has promised to expedite the process Chinese workers must go through to obtain Egyptian work permits. They also hope to lower the country's unemployment rate.

According to Khorshid and Kabil, Egypt plans to use China's economic development as a model for its own economy, including China's emphasis on small and medium-sized enterprises as well as industrial parks.