Egypt and China consider joint investments in Suez Canal Economic Zone

In Egypt, Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), welcomed a delegation from the Jiangsu Federation of Industry and Commerce, led by Vice President Liu Jun. 

The main objective of the meeting was to seek cooperation opportunities and familiarise the delegation with investment prospects in sectors prioritised by SCZONE, with the aim of attracting more companies from Jiangsu, one of China's leading economic provinces. This is repoted by Daily News Egypt, a partner of TV BRICS.

During the discussions, El-Din highlighted SCZONE's successful co-operation with Chinese partners, totalling more than 200 companies in various sectors. The zone authority recently attracted investments of over US$1.067 billion from Chinese companies as a result of a promotional tour of China.

The SCZONE Chairman also presented the investment opportunities available in the zone's 21 diverse sectors covering industry and logistics. He emphasised the zone's competitive advantages, including its strategic location facilitating access to global markets, especially through Egypt's various free trade agreements. 

The availability of a skilled labour force and a variety of energy sources at competitive prices were also highlighted. El-Din pointed out the potential to further develop successful Chinese investments, especially given the strategic partnership between Egypt and China, which has been strengthened following Egypt's recent inclusion in the BRICS group.

Photo: Daily News Egypt