CAIRO, Nov 26 (NNN-MENA) – The Suez Canal Economic Zone (SCzone), attracted investments totalling 11.6 billion U.S. dollars, over the past three and a half years, with Chinese investors accounting for a substantial 50 percent, chairman of the SCZone, Waleid Gamal El-Dein, announced yesterday.
He made the remarks while attending the “Jiangsu-Egypt Economic and Trade Cooperation Conference,” held in the Egyptian capital, Cairo. The event aimed at solidifying the commercial and investment partnership between companies from China’s Jiangsu Province and Egypt.
The chairman highlighted the SCzone’s growing appeal as a platform for global investments, attributing its success to well-developed infrastructure, the integration of its six ports and four industrial areas, and competitive incentive packages for investors.
He emphasised that, Chinese investments demonstrate the strength of the economic ties between Egypt and China, as well as, the strong interest Chinese companies have in the SCZone.
During the conference, the Egyptian official highlighted the extensive cooperation with the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, inside the SCzone.
This partnership currently encompasses over 200 industrial, service, and logistics projects, with total investments exceeding three billion dollars, he said, adding that, the volume of cooperation with Chinese investments in the West Qantara Industrial Area has surpassed 700 million dollars.
Established in Aug, 2015, the SCZone covers 461 square km, along the Suez Canal, and boasts six ports and four development areas. West Qantara is one of the key industrial zones.– NNN-MENA
