- May 25, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
Within the framework of the intensive activity of the Suez Canal Economic Zone (SCZONE) in Beijing, and several Chinese provinces, Mr. Waleid Gamal El-Dien chairman of SCZONE met with representatives from the China-Africa Development Fund headed by the chairman Mr. Song Lee.
“SCZONE aspires to localize the various industrial and services sectors, not only to meet the needs of the local market but also to meet the needs of the African market. Egypt has made a great effort to equip SCZONE with all the specifications that distinguished it in the movement of industry, trade, and export. It confirms the ability of SCZONE to play the role of an economic mediator among various markets and products. SCZONE seeks more of Chinese-African cooperation to localize the targeted industries, most notably the pharmaceutical industries, their active substance, the automotive industry, Green fuel, and complementary industries that meet the needs of global and regional markets.” Mr. Waleid Gamal El-Dien declared.
“We have a great willingness to finance Chinese projects interested in investing in SCZONE, especially major projects such as green hydrogen and its complementary industries” The China-Africa Development Fund chairman, said.
The meeting includes discussions about future projects, targeted sectors, and investment incentives, as the China – Africa Development fund is investing in 8 projects inside Egypt, including two projects in (TEDA-Egypt) in the industrial zone in Sokhna, in addition to financing Midea projects for household electrical appliances in Sokhna, which confirms the capabilities of cooperation between the two sides in achieving progress regarding the targeted sectors.