Global South World - Investment Strategies https://www.globalsouthworld.com/rss/tag/Investment%20Strategies en-US Why China and Egypt are moving away from the dollar in trade and investment https://www.globalsouthworld.com/article/why-china-and-egypt-are-moving-away-from-the-dollar-in-trade-and-investment https://www.globalsouthworld.com/article/why-china-and-egypt-are-moving-away-from-the-dollar-in-trade-and-investment Fri, 11 Jul 2025 14:37:21 Z The agreement was signed Thursday during Chinese Premier Li Qiang’s official visit to Egypt and was witnessed by Egyptian Prime Minister Mostafa Kamal Madbouly. According to China’s central bank, the People ’s Bank of China (PBoC), the MoU aims to expand cooperation in areas such as local currency settlement, central bank digital currency (CBDC) development, and digital innovation.

The move is part of a push by both countries to reduce exposure to exchange rate risks and transaction costs tied to the dollar. “The agreement will create a better environment for financial cooperation by supporting the use of local currencies in current account transactions and direct investment,” the PBoC said in a statement.

During his visit, Premier Li expressed China’s commitment to advancing bilateral trade and unlocking new areas of economic growth. “China is willing to work with Egypt to optimize bilateral trade and create new drivers of economic growth,” he said.

Pan Helin, a member of the Expert Committee for the Information and Communication Economy under China’s Ministry of Industry and Information Technology, said the MoU marks “a new milestone” in financial cooperation. “As Egypt diversifies its foreign exchange sources and the Renminbi becomes more prominent in international payments, this cooperation will help both countries reduce reliance on the dollar,” Pan told the Global Times .

]]> Global South World Martin Sylvest Ritzau Scanpix Denmark Danish King Frederik and Egypt's President Abdel Fattah al-Sisi meet in Copenhagen Zimbabwe’s central bank assures EU investors on profit repatriation and investment security https://www.globalsouthworld.com/article/zimbabwes-central-bank-assures-eu-investors-on-profit-repatriation-and-investment-security https://www.globalsouthworld.com/article/zimbabwes-central-bank-assures-eu-investors-on-profit-repatriation-and-investment-security Thu, 22 May 2025 16:32:30 Z Speaking at the EU-Zimbabwe Business Forum in Harare, RBZ Deputy Governor Dr. Innocent Matshe emphasised that registered investments through the Zimbabwe Investment and Development Agency (ZIDA) face no restrictions on repatriating profits, dividends, or disinvestment proceeds.

“This is a regulated, transparent system. Once an investment is registered, there are no obstacles in remitting profits, dividends, or disinvestment proceeds. Regulatory compliance is crucial for seamless operations in Zimbabwe’s financial landscape,” Herald Online quotes Dr. Matshe.

The assurance is in line with President Emmerson Mnangagwa’s “Open for Business” policy , which has been in place since 2018. Zimbabwe has introduced a range of incentives, including tax breaks, duty exemptions, and capital allowances, to attract foreign capital and foster economic growth.

NMB Bank CEO Gerald Gore reinforced RBZ’s message, confirming that repatriations have been processed efficiently for registered investments. “As authorised dealers, we facilitate remittances on behalf of our clients, and the system has been working well,” Gore said.

However, the forum also highlighted challenges. Dr. Sibongile Moyo, Vice President of the Bankers Association of Zimbabwe, warned that unresolved legacy debts, particularly from previously blocked funds , continue to weigh heavily on the financial sector.

]]> Global South World Anton Vaganov REUTERS FILE PHOTO: Zimbabwe's President Emmerson Mnangagwa attends St. Petersburg International Economic Forum