SCZone
The partnership seeks to enhance joint coordination between the two entities across multiple sectors, including industry, agriculture, mining, tourism, and services within their respective economic zones.
One of the key points of discussion was the possibility of conducting trade transactions using the local currencies of both countries
During the meeting, El Menshawy explained that the Egyptian government has made great strides in the field of green hydrogen, whether in terms of creating the appropriate environment for investments or entering into partnerships with major international companies
This represents an increase of approximately 70 percent compared to the same period in 2022, where the revenue was LE 2.6 billion
The total investment amount will be divided into LE 1.2 billion and $195 million
The factory, covering an expansive area of 26,000 square meters, is expected to create approximately 300 job opportunities
In a televised statement concluding his tour of the SCZone in Ain Sokhna, Madbouly highlighted its transformation into a trade hub with a focus on local industry
This reflects the zone’s dedication to promoting stronger cooperation with China, which includes the TEDA Cooperation Zone, Abdel-Khalek noted
Prior to the framework agreement, exhaustive technical and financial feasibility studies will be conducted to ensure the viability and success of the complex.
The agreement was signed by Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, and Khaled Hamza, Director of the European Bank for Reconstruction and Development office in Egypt.
During the tour, the chairman engaged in 12 meetings with various companies and conducted on-site visits to prominent factories and businesses in four cities: Hangzhou, Suzhou, Hefei, and Beijing
During the meeting, the two sides also discussed cooperation in green energy projects, and supporting small and emerging projects
Foreign Minister Sameh Shoukry said Egypt seeks to scale up the volume of New Zealand's investments, particularly in the Suez Canal Economic Zone (SCZone), taking into account legislative incentives and positive developments in the investment environment in Egypt.
President Abdel Fatah al-Sisi was briefed Thursday on the executive status of investments in the Suez Canal Investment Zone (SCzone).
SCZone Istithmar will formulate strategic plans to manage SCZone’s current and future investments and set up joint development enterprises with the private sector.
The factory covers an area of 83,000 square meters with a total investment cost of $40 million, of which $28.5 million is allocated for the first phase.
Egypt’s Ain Sokhna and Al Adabiya ports recorded significant activity during the final quarter of FY2022/2023, revealed new data by the Suez Canal Economic Zone (SCZone)
Gamal El-Din stated that the new projects are the results of the continuous work and the strategic partnership between SCZONE and the Chinese investors
This meeting follows the recent signing of preliminary agreements between SCZone and Chinese companies for projects worth hundreds of millions of dollars during a roadshow in China
Chairman of the Suez Canal Economic Zone (SCZone) Walid Gamal El Dien announced the signing of $487 million agreements and contracts between a number of Chinese companies and the industrial developer TEDA-Egypt for establishing new projects in the industrial zone of Al Ain Al Sokhna.
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