CAIRO - 8 December 2024: The Chairman of the Suez Canal Economic Zone (SCZONE), Walid Gamal El-Dien, led the groundbreaking ceremony for the Chinese Henneway luggage manufacturing project at the Qantara West Industrial Zone. The $50 million investment spans 120,000 square meters and is expected to create 3,000 jobs.
In his address, Gamal El-Dien emphasized that the Qantara West Industrial Zone is a symbol of Egypt's national commitment and the SCZONE's developmental vision. With improved infrastructure and a business-friendly environment, the zone has completed the first phase of development, which includes nine projects in sectors such as textiles, garments, medical equipment, sportswear, food industries, and luggage manufacturing.
Six projects, with a combined investment of $271 million across 614,000 square meters, have already been signed, generating over 12,000 jobs. The remaining three projects are still under negotiation.
The Henneway project marks a significant step in strengthening SCZONE's collaboration with Chinese investors, whose total investments have exceeded $3 billion. Gamal El-Dien noted that the project aligns with SCZONE's strategic goal to establish the region as a prominent industrial and commercial hub, while also creating substantial employment opportunities.
Hailong Wu, Chairman of Henneway, explained that his interest in the SCZONE was piqued during a meeting with Gamal El-Dien during a visit to China in October 2023. Following this, Henneway officials visited Egypt, and the project agreement was signed in December 2023.
Wu credited the SCZONE's support, investment incentives, and international agreements for the swift launch of the project and expressed confidence that continued collaboration will ensure its success.
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