- July 24, 2025
- Posted by: Ahmed Abed
- Category: EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), continued his investment roadshow in the People’s Republic of China. The day’s activities covered the cities of Hangzhou and Tongxiang in Zhejiang Province, as part of a comprehensive plan to showcase SCZONE’s investment potential and highlight available opportunities across the industrial, logistics, and renewable energy sectors.
The day commenced with a large seminar titled: “SCZONE: proximity to the markets proofing “investing made easy”.” The seminar witnessed the presence of representatives from the Hangzhou provincial government and a large number of business and industrial executives interested in learning more about SCZONE’s investment opportunities.
The session was opened by Ms. Zheng Hui, General Manager of the Economy and Technology Sector in Hangzhou, who welcomed the SCZONE delegation and expressed the interest of Hangzhou’s business community in the promising opportunities offered by SCZONE. Following that, Mr. Waleid Gamal El-Dien delivered a keynote presentation that covered the advantages of SCZONE, including its strategic geographical location, integrated infrastructure, and investor-friendly incentive schemes.
As part of the seminar, Mr. Lo Wenlong, Chairman of the Chinese company HIGHTEX, delivered a presentation about his company’s project in the West Qantara Industrial Zone, which specializes in producing decorative fabrics and home textiles. The project spans 65,000 square meters, with an investment of USD 17 million, creating approximately 300 direct jobs, and operates through an integrated production chain fully oriented toward exports.
The seminar concluded with an open Q&A session, where investors raised a range of inquiries regarding topics such as tax treatment for vehicle assembly activities, availability of industrial land in West Qantara, green hydrogen projects, timelines for issuing operational licenses, permitted foreign labor ratios in specialized industries, and infrastructure readiness in the Sokhna Integrated Industrial Zone.
“SCZONE is a fully integrated industrial and logistical platform located along one of the world’s most strategic maritime corridors. SCZONE is an attractive business environment with modern infrastructure, flexible customs system, and streamlined procedures. SCZONE has the readiness to host various types and sizes of industrial and commercial projects, with the availability of a comprehensive infrastructure network, flexible supply chains, and logistics facilities capable of supporting export activities to regional and global markets, especially in Africa, Europe, and the Middle East.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared during his remarks.
After the seminar, the SCZONE delegation headed to Tongxiang city in Zhejiang Province, to visit the headquarters of Zhenshi Holding Group, the parent company of China Jushi Co., Ltd. A meeting was held with Mr. Zhang Yuqiang, Chairman of Zhenshi Holding, and Mr. Guoming Yang, President of China Jushi, along with senior executives from both companies.
Zhenshi Holding Group operates across various sectors, including special steel, nickel and iron manufacturing, metal materials, advanced composites, glass fiber fabrics for wind energy, as well as R&D, trade and logistics, real estate development, hospitality, healthcare, and financial investment. The group is looking to expand both locally and in neighboring markets and is studying investment opportunities in SCZONE, particularly in the East Ismailia Industrial Zone, to establish an integrated industrial complex that benefits from the proximity to raw material sources in the area.
As for China Jushi Co., Ltd, it is one of the world’s leading manufacturers of fiberglass and its derivatives. The company has achieved remarkable success through its Jushi Egypt plant located in Sokhna Integrated Industrial Zone, which is the fourth-largest fiberglass production facility globally. The plant includes four production lines and exports its products to international markets through SCZONE’s ports.
During the meeting, Mr. Waleid Gamal El-Dien presented SCZONE’s capabilities and emphasized SCZONE’s interest in attracting stainless steel industries to support the automotive components sector, as well as new and renewable energy industries, in alignment with its strategy to localize manufacturing and enhance supply chains for these key sectors. At the end of today’s agenda, the delegation visited the headquarters of XinfengMing Group, one of the leading companies in the field of polyester fiber manufacturing, where a meeting was held with Mr. Kuilong Zhuang, president of the company, Mr. Joseph Ma, the Deputy president of the company, and Mr. Jianyu Shen, Executive Director of the company. During the meeting, company officials delivered a presentation highlighting the global development of XinfengMing’s operations and its future expansion plans. Both parties discussed the potential presence of the company within SCZONE in the near future, to localize polyester fiber manufacturing in Egypt to support and integrate the textile industry value chain, serve ready-made garment projects, and further enhance the automotive components sector. The visit concluded with a field tour of the company’s factory, during which the delegation observed the modern production lines and advanced technologies used in polyester fiber manufacturing.
