$11.6 Billion in Investments in the Suez Canal Economic Zone, Half of Which is Chinese

Waleid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone) General Authority, announced today (Tuesday) that the Authority has attracted investments worth $11.6 billion, half of which are Chinese investments.

The announcement was made during the "Jiangsu-Egypt Economic and Trade Cooperation" conference in Cairo, which aims to enhance trade and investment partnership between Jiangsu province companies and Egypt, within the framework of the "Belt and Road Initiative" and Egypt's Vision 2030.

1. Indicators of Economic Partnership with China

• Total Attracted Investments: $11.6 billion (over 3.5 years).

• Share of Chinese Investments: 50% of the total.

• Cooperation with TEDA Zone: Cooperation with the Chinese TEDA Zone within the SCZone has reached over 200 industrial, service, and logistics projects, with total investments exceeding $3 billion.

• Qantara West Industrial Zone: Chinese investments in this zone have exceeded $700 million.

2. Attractive Factors and Strategy

• Infrastructure and Incentives: The SCZone is relying on its advanced infrastructure, the integration of its ports (6 maritime ports) with its industrial areas (4 industrial zones), and a package of competitive incentives for investors.

• Chinese Importance: Gamal El-Din affirmed the SCZone's appreciation for the significant economic weight of the Chinese province of Jiangsu (which includes 16 advanced manufacturing sectors) and its readiness to provide support for companies wishing to expand their investments.

• Founding: The SCZone was established in August 2015 to be an integrated business environment across the banks of the Suez Canal (460.6 square kilometers).