China's East Hope Group considers $10 billion investment in #UAE - Reuters

China's East Hope Group considers $10 billion investment in UAE - Reuters:

China’s East Hope Group is evaluating plans to invest $10 billion in an industrial zone in the United Arab Emirates, joining other Chinese companies, seeking a slice of China’s Belt and Road initiative.

Chinese companies are increasingly seizing opportunities in the Gulf, expanding overseas in line with the investment policy championed by Chinese President Xi Jinping.

Shanghai-based manufacturing giant East Hope is working with the Khalifa Industrial Zone Abu Dhabi (Kizad) to develop industries over 15 years in a three-phase plan, a statement from Kizad said on Sunday.